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North Carolina Slate uorary. ^ ^ 

Raleigh poc. 

ANNUAL REPORT 



OF 



THE NORTH CAROLINA 



Corporation Commission 



FOR THE 



YEAR ENDING DECEMBER 31, 1899 



•^^• 



RALEIGH, N. C: 

Edwards & Broughton and E. M. Uzzeix. State Printers. 

presses of edwards & broughton. 

r899. 



NORTH CAROLINA CORPORATION COMMISSION. 



FRANKLIN McNEILL, 

Chairman, 
SAM L. ROGERS. 
D. H. ABBOTT. 



Henry C. Brown, 

CLERK. 



Office of the 
north Carolina Corporation eotntnission 



Ealeigh, December 30, 1899. 

To His Excellency^ Daniel L. Russell, 

Governor of North Carolina. 

Sir: — In obedience to the Statute of North Carohna, we have 
the honor to submit to your Excellency the Annual Report of the 
.North Carolina Corporation Commission for the year 1899 and the 
transactions of this Commission during the said year, together 
with a compilation of the Annual Reports for the fiscal year end- 
ing June the 30th, 1899, of all the railroads in this State, and the 
last report of all the banks of the State to this Commission. 
Building and Loan Associations are required by la.w to make re- 
ports as of December 31, and their reports will appear in our next 
annual report. 

On April the 5th, Franklin McNeill, Chairman; S. L Rogers 
and E. C. Beddingfleld, who had been elected Commissioners by 
the Legislature of 1899, met in the office of said Commission and 
the oath of of^ce was administered to them by Hon. Walter Clark, 
Associate Justice of the Supreme Court of North Carolina.. 

Dr. D. H. Abbott, who had been elected Railroad Commissioner 
and whose term had not expired, contended that he was entitled 
by reason thereof to the office occupied by E. C. Beddingfield,, 
and brought an action to recover the same. The result of which 
was that the Supreme Court of North Carolina decided that the 
act of the Legislature, depriving Dr. Abbott of his unexpired 
term, was unconstitutional; so that E. C. Beddingfield served on 
the Commission from April the 5th to the 22d day of November, 
when Dr. Abbott was admitted to and assumed the duties of the 
office. 



IV N. C. CORPORATION COMMISSION. 

The Commission elected Mr. H. C. Brown Clerk, and soon after 
organizing adopted rules of practice and procednre in matters be- 
fore them, and also rules governing the transportation of freight 
and passengers, all of which were, in the main, the same as those 
adopted by the Eailroad Commission. 

The annual report of the railroads of the State and the last 
report of the State banks of the State will appear in full elsewhere 
in this report, but a few statistics will be stated here. The rail- 
road mileage was increased during the year 108.25 miles; gross 
earnings from operation were 813,253,627.4:3; the operating ex- 
penses were $8,186,500.4:1, net earnings were 15,067,127.02 — an 
increase of $796,281.93 over the earnings of 1898. The capital 
stock of ail the railroads in the State is 159,096,806.32; the funded 
debt of all the railroads in the State is $1:4:, 641, 628. 36; total cost 
of all the railroads in the State is 182,123,467.15; interest paid on 
funded debt for the fiscal year was 12,121,348.80; dividends paid 
in the last fiscal year were $953,462. 93; number of employees in 
1899 was 9,120 — an increase of 121 over the number of last year. 
Two passengers were killed and 65 injured; 26 employees were 
killed and 648 injured; 68 trespassers were killed and 99 injured; 
two persons not trespassers were killed and 11 injured — total 
killed, 98, and 823 injured. Number of State banks, 80, with a 
capital stock of $2,449,811.01; deposits, $9,152,192.28, an undi- 
vided surplus of $843,279.29. Building and Loan Associations 
number 34 in the State. 

The Commission required the railroads in the State, except such 
as were exempted, to put into effect the act of the Legislature 
of 1899 providing for separate accommodations on the cars for 
white and colored races on the 1st day of June, and this was done 
on the day named, and so far as the Commission is now informed 
it is working well. 

The Commission adopted the freight and passenger tariffs which 
were in effect prior to April the 6th, 1899, except as to fertilizers, 
which will be referred to hereafter in this letter, with this 
qualification: 

The rates for the transportation of passengers on the Wilming- 
ton and Weldon Railroad were restored to that of the standard 
passenger rate ; that is, 3i cents for first-class and 2| cents for 



LETTER OF TRANSMITTAL. V 

second-class fare; the rate for the transmission of telegraphic 
messages by the Western Union Telegraph Company was restored 
to 25 cents for a message of 10 words to and from any point on 
its line in the State. 

Suits were pending in the Federal Court for the purpose of en- 
joining the enforcement of the order of the Railroad Commission 
reducing passenger rates over the Wilmington and Weldon Rail- 
road, and telegraphic rates by the Western Union Telegraph 
Company. 

These suits were pending at the time of the repeal of the Rail- 
road Commission Act by the last General Assembly. Such being 
the case, the Commission was at a loss to know the exact status 
of those cases, but being of the opinion that the Railroad Com- 
mission Act had been repealed, thought that the suits would 
abate of themselves. 

Since this legislation has been construed by our Supreme Court 
to be an amendment to, and not a repeal of, the act referred to, 
the Commission will be obliged to take some steps in regard to 
these suits. 

ASSESSMENT OF RAILROAD AND OTHER PROPERTY FOR 

TAXATION. 

The Commissioners undertook to discharge the duty imposed 
upon them by the statute of assessing railroad and other property 
for taxation at the time provided by the statute. In the dis- 
charge of this duty, they availed themselves of the reports of the 
different railroads and other property which were accessible to 
them, and in some instances visited the properties with a view to 
obtaining what information they could in that way ; and after 
making a careful consideration of the matter, made assessments 
on all of these different properties as required by the statute. 
The companies whose properties were so assessed were duly no- 
tified and a day fixed for hearing any exceptions which the par- 
ties interested might desire to make. All of the roads composing 
the Atlantic Coast Line System, all the roads composing the 
Southern Railway System, and the Seaboard Air Line System, 
and the Western Union Telegraph Company, appeared on the day 
named and excepted to the valuations placed upon their property, 
alleging that while their properties were valued at their actual 



VI N, C. CORPORATION COMMISSION. 

value, that other property in the State — and notably farm prop- 
erty — was systematically and designedly undervalued and assessed 
at two-thirds or three-fourths of its value, and that thereby these 
properties were unjustly discriminated against. After hearing 
the exceptions and all the facts and arguments offered to sustain 
them, the Commission was of the opinion that the assessments or 
valuations were not too high relatively or otherwise, and ordered 
that the exceptions be overruled and that the Clerk certify the 
same according to law. Thereupon, the roads composing the 
Atlantic Coast Line System, Southern Railway and Seaboard Air 
Line and the Western Union Telegraph Company, brought suit 
in the Circuit Court of the United States before Hon. Charles H. 
Simonton for an injunction to restrain the Commission from cer- 
tifying the assessment to the different officers of the State. This 
matter was heard in Asheville on the 13th day of August, 1899, 
on a motion to continue this injunction to the hearing. Among 
other objections made to the assessment, the said companies in- 
sisted that the Commission did not have the power to assess or 
value their properties under the Revenue Law passed by the Leg- 
islature of 1899. 

His Honor Judge Simonton held that the Commission did not 
have the power to assess or value the property of the said com- 
panies under Revenue Law of 1899, and ordered that the injunc- 
tion be continued to the hearing. 

A petition has been filed before Judge Simonton to rehear this 
judgment, and a rehearing was ordered and had at Charleston, 
S. C, on the 2Tth of December, 1899, and no decision has been 
announced. 

All of the proceedings in reference to these suits will more fully 
appear from copies of bills filed by the said companies, copy of 
answer and affidavit filed by the Commission and H. C. Brown, 
Clerk, and copy of the order of the Court, which will accompany 
and form part of this report. 

The Commission respectfully recommend that you call the at- 
tention of the Legislature at its next session to the fact that the 
Revenue Law has been construed by the Federal Court not to con- 
fer upon the Commission the power to assess railroad and other 
property for taxation in order that such amendments may be 
made thereto as may be deemed proper. 



LETTER OF TRANSMITTAL. VII 

COMPLAINTS. 

One hundred and forty complaints were filed before the Com- 
mission, all of which received careful attention, and such as were 
without the jurisdiction of the Commission were brought to the 
notice of the railroad companies and the differences were in most 
cases satisfactorily adjusted, the point of jurisdiction not being 
raised. 

Only a few of the more important matters are reported herein, 
as it would encumber the report. 

Col. John S. Cuningham, Chairman of the State Board of 
Agriculture, in behalf of the Board, petitioned the Commission to 
reduce the minimum carload of fertilizers from fifteen tons to ten 
tons and reduce the rate per ton. A similar petition was filed by 
Mr. T. B. Parker, President of the State Alliance. The railroads 
of the State were notified and a date fixed for the hearing. The 
Traffic Managers of the different roads and petitioners and their 
counsel appeared on the date fixed and full consideration of the 
matter was had, and the Commission adopted Circular No. 1, 
which appears elsewhere in this report. This order reduced the 
minimum carload from fifteen to ten tons and made the rates per 
ton therein recited applicable to all the railroads in the State. 
The rate per ton, it will be observed, is the same as the standard 
rate in existence prior to the date of the Commission's order. 
Ten tons had been the minimum carload of fertilizers of North 
Carolina for many years prior to February, 1898. At that last 
date the Railroad Commission changed it to fifteen tons. At the 
time of hearing before the Commission, to-wit: April, 1899, ten 
tons was still the minimum carload in Virginia and in South 
Carolina The tariff sheets of the railroads advertised ten tons 
minimum carload from North Carolina, South Carolina and Vir- 
ginia points to all Virginia and South Carolina points, and fifteen 
tons minimum carload from all points to North Carolina points. 
The Commission could not understand why the same roads could 
not furnish the people of North Carolina, who appeared to be in 
similar conditions to the people in Virginia and South Carolina, 
the same accommodations at the same rates. 

Exceptions were filed to this order by the railroads, which were 
heard after due notice to interested parties, and after careful con- 



VI|I N. C. CORPORATION COMMISSION. 

sideration were overruled. All of the railroads in the State 
adopted this circular at once and put the same into operation ex- 
cept the roads composing the Seaboard Air Line System; all of 
the roads of which appealed to the Superior Court from said order. 
The Carolina Central, however, withdrew its appeal after suit 
was brought by Mrs. Virginia B. Matthew^s in Federal Court to 
enjoin the Commission from enforcing this order. The appeal 
was docketed in the Superior Court of Wake County and was 
called at the next term, but for certain causes it could not then 
be tried; but it was agreed that Hon. Fred. Moore, Judge presid- 
ing Fourth Judicial District, should try the case in Raleigh on 
the 11th of December, jury trial being waived. The trial was 
had as agreed and Judge Moore now has the case under consid- 
eration. The Seaboard and Roanoke and the Raleigh and Gaston 
contended that the Commission had no power to make any rates 
for them on account of the provisions of their respective charters, 
and also that the rates as established were unjust and unreasonable. 

The revenue derived by the Raleigh and Gaston Railroad Com- 
pany from intrastate fertilizer traffic for the season of 1899 
amounted to about one thousand four hundred dollars; the rate 
per ton on fertilizers is the same as that of the order of the Com- 
mission, the contention being over the reduction of carload min- 
imum from 15 tons to 10 tons; so the loss in revenue by the 
Raleigh and Gaston Railroad would be infinitesimal; and the Sea- 
board and Roanoke is litigating over a matter that does not reduce 
their revenue one dollar, as the road is not affected by the order, 
the reports showing that there was no intra-state movement of 
fertilizers on this road, for the season of 1899. 

The Commission also established a uniform rate on cotton seed 
and cotton-seed hulls applicable to all railroads in the State. 
The Seaboard Air Line System of roads excepted to the order of 
the Commission directing the several roads of this system to 
apply continuous mileage as provided in Rule 1 of the rules gov- 
erning transportation of freights to this and all other traffic and 
appealed to Superior Court. 

As stated above, Mrs Virginia B. Matthews instituted suit in 
the Federal Court against the Commission and the Carolina Cen- 
tral Railroad, and insisted that the Commission had no power to 
make rates for the Carolina Central Railroad because of the pro- 



LETTER OF TRANSMITTAL. IX 

visions in the charter of the Wihuington, Charlotte and Ruther- 
fordton Railroad, to which rights complainant alleged that the 
Carolina Central had succeeded, and insisting further that the 
rate was unreasonable and unjust, and especially so, as it did not 
allow the Carolina Central to charge 30 per cent more than the 
standard rate, which it had before that time been allowed to 
charge on fertilizers and all other freights. 

Judge Simonton, before whom this suit is pending, .decided the 
first question, namely: As to the power of the Commission to 
make rates against the complainant, and referred the matter to a 
Special Master, E. S. Martin, Esq., to take testimony and report 
upon the reasonableness of the rate. The Special Master had his 
first hearing in Raleigh on the 21st of December, 1899, and the 
Commission thinks the matter will be followed up by him to a 
speedy conclusion. 

After a careful consideration, the Commissioners are of the 
opinion that their action in removing the arbitrary rate heretofore 
allowed the Carolina Central Railroad on fertilizers was proper, 
and that this arbitrary rate ought also to be removed from all 
other freights. As a matter of fact, this road only applied this 
arbitrary rate to local freights; that is to say, freights originating 
on and terminating on that road, and did not apply it to through 
freights; that is, freights originating on that road and terminat- 
ing on some other road or originating on some other road and 
terminating on that road, and, in fact, charged on through 
freights a rate much lower than the standard rate. 

The average receipt per ton on through freights was 60 cents 
and on local freights 11.64, as shown by quarterly report for 
quarter ending September the 30th, 1899, of the Carolina Central 
Railroad Company; and as the tonnage of through freights ex- 
ceeds greatly the tonnage on local freights, the Commission thinks 
that if the standard tariff was fairly and justly applied to local 
freights and a rate on through freights lower in proportion to 
cost of transportation than the rate charged on local freights, 
the revenue of this road would be greatly increased thereby. 

In the year ending June the 30th, 1899, number of tons earn- 
ing revenue on this road were 501,-462 tons and the revenue there- 
from was $4:4:1,64:7.14:; in the year ending June the 30th, 1891. 
the number of tons earning revenue were 222,911 tons and the 
revenue therefrom was $433,610 84. It may be claimed that this 



X N. C. CORPORATION COMMISSION. 

shows that the rates have been reduced, but this is not the fact. 
The fact is that the rates in force during said quarter were the 
same as they were in 1891, and the difference in the revenue is 
caused by the great increase in through tonnage and a corre- 
sponding decrease in local tonnage. The through freights for the 
fiscal year ending June the 30th, 1899, were 383,562 tons; reve- 
nue therefrom, $235,647.32; local freights, 120,900 tons; revenue 
therefrom, $213,081.05. Average receipt per ton of through 
freights, 61 cents; average receipt per ton for local freights, $1.64. 
This arbitrary rate is so manifestly unjust to all persons inter- 
ested in local freights that the Commissioners feel much con- 
cerned about remedying it. 

The Commission established a rate for telephone service, to 
which the Southern Bell Telephone and Telegraph Company ex- 
cepted and appealed to the Superior Court, although this com- 
pany is not charging any higher rate, and at most points a less 
rate, at any point in the State than that fixed by the Commission. 
The work of the Commission for the year has been greatly 
facilitated by the courteous and efficient manner in which Mr. 
H. C. Brown, Clerk, has discharged his duties. 
Respectfully submitted, 

Franklin McNeill, 

Chairman. 

Sam L. Eogers. 

D. H. Abbott. 



An Act to Establish the North Carolina Corpora- 
tion Commission* 

(As Amended.) 



The General Assembly of North Carolina do enact: 

Sections' 1. That there shall be elected by this general assem- Election of three 
bly three commissioners, who shall have general supervision of °™"^ ssioners. 
railroads, steamboat navigation and canal companies, express Duties and pur 
and telegraph and telephone companies, building and loan asso- Rose of commis- 
ciations, banks and sleeping car companies. That the said com- 
missioners elected by this general assembly and their successors 
in office shall be and they are are hereby created and constituted how elected. 
a court of record, and shall be known as the North Carolina Cor- corporate name. 
poration Commission, and as such shall have all the powers and 
jurisdiction of a court of general jurisdiction as to all subjects 
embraced in this act and shall have a common seal. The term 
of office of said commissioners «hall begin immediately after their Term of office. 
election by this general a>-sembly and their qualification and shall 
continue until the first day of January, nineteen hundred and 
one and until their successors are elected and qualified. At the 
general election for state officers in nineteen hundred there shall shall be elected at 
be elected three commissioners by the qualified electors of this ^^"^''^^ ^^^*^^^°"^' 
state at the time and places of voting for members of the legisla- 
ture, one of whom shall be elected for the term of two years anc* 
one for the term of four years and one for the term of six years. 
After the first election such commissioners shall be elected by the 
qualified electors of this state at the time and places of voting 
for members of the legislature for a term of six years and shall 
be members of and constitute the North Carolina Corporation 
Commission. In case of vacancy the board of internal improve vacancies occur- 
ments shall appoint to such vacancy and their appointee shall "ng,how supplied, 
hold until the qualification of his successor, who shall be elected 
by the qualified electors of this state at the next regular election 
after the vacancy has taken place and the person then chosen 
shall hold the office for the unexpired term. The said commis- 
sioners in addition to the oath to support the constitution and commissioners 
laws of the United States and the constitution and laws of the ''^^^ ^^'^^ °^*^- 
state of North Carolina shall take, to be administered by one of 
the judges of the supreme court, the following oath of office, 
which oath shall be signed by said commissioners and attested 
by said judge and recorded in the office of the clerk: "I do sol- Form of oath. 
emnly swear (or affirm) that I am not the owner of steamboat or 
of any stock or bond of any railroad, navigation or canal com- 
pany, express, telegraph or telephone company or of any build- 
ing and loan association, or the agent or attorney or employee of 



Corporation Commission Act. 



Shall not be inter- 
ested in companies 
under their super- 



Control and super 
vision of certain 
corporations. 



Shall investigate 
books and papers. 



Empowered to 
examine officers, 
agents, etc. 



Powers of commis- 
sion. 
To make rates. 



Shall consider 
certain facts. 



any sach company or association; that I have no interest in any 
way in any such company or association, and that I will well and 
faithfully execute the duties of my oflflce as a member of the 
North Carolina Corporation Commission to the best of m^^ knowl- 
edge and ability, without fear, favor or malice or reward or the. 
hope of reward. So help me, God." Said commissioners shall 
not jointly or severally or in any way be the holder of any stock 
or bond or be the agent or attorney or employee of any such com- 
pany or have any interest in any way in such company and shall 
so continue during the term of his office, and incase any com.mis- 
sioner shall as distributee or legatee or in any other way have or 
become entitled to any stock or bonds or interest therein of any 
such company he shall at once dispose of the same. They shall 
have such general control and supervision of all railroad, steam- 
boat, canal, express and sleeping car companies or corporations 
and of all other companies or corporations engaged in the car- 
rying of freight or passengers; of all telegraph and telephone 
companies, of all public and private banks and all loan and trust 
companies or corporations, and of all building and loan associa- 
tions or companies necessary to carry into effect the provisions 
of the act. They shall investigate the books and papers of all 
such companies, individuals, firms or corporations and they shall 
visit in person from time to time the place of business of such 
companies, individuals, firms or corporations to ascertain if all 
orders, rules and regulations of the North Carolina Corporation 
Commission have been complied with, and shall have full power 
and authority to examine all officers, agents and employees of 
such companies, individuals, firms or corporations, and all other 
persons under oath or otherwise, and to compel the production 
of papers and the attendance of witnesses to obtain the informa- 
tion necessary for carrying into effect and otherwise enforcing 
the provisions of this act. 

Sec. 2. That said commission is hereby empowered and directed 
(1) To make reasonable and just rates of freight, passenger and 
express taritTs for railroads, steamboats, canal and express compa- 
nies or corporations, and all other transportation companies or 
corporations engaged in the carriage of freight, express or pas- 
sengers: Provided, that in fixing any maximum rate or charge 
or tariff of rates or charges for any common carrier, person or 
corporation subject to the provisions of this act the said commis- 
sion shall take into consideration if proved or may require proof 
of the fair value of the property of such carrier, person or corpo- 
ration used for the public in the consideration of such rate or 
charge or the fair value of the service rendered as in determining 
the fair value of the property so being used for the convenience 
of the public. It shall furthermore consider the original cost of 
the construction thereof and the amount expended in permanent 
improvements thereon and the present compared with the origi- 



N. C. Corporation Commission. 3 

nal cost of construction of all its property within the state of 
North Carolina; the probable earning capacity of such property 
under the particular rates proposed and the sum required to 
meet the operating expenses of such carrier, person or corporation 
and all other facts that will enable them to determine what are 
reasonable and just rates, charges and tariffs. 

(2) To make reasonable and just rules as to charges by any Reasonable and 
company or corporation engaged in the carriage of freight or -^p^o^ratfons h'an'd-'^' 
express for the necessary handling and delivery of the same at im if express or 
all stations. 

(3) To make reasonable and just rules and regulations to pre- shall prevent 
vent discrimination in the transportation of freight or passengers, ^^^^""iinauon. 

(4) To make reasonable and just rates of charges for the use of J"st rates for 

., -, . n ' , ^ freight and pas- 

railroad cars carrying freight or passengers. sengers. 

(5) To make reasonable and just rules and regulations to pre- prevent rebates 
vent the giving, paying or receiving of ;iny rebate or bonus di- ^^^• 

rectly or indirectly or the misleading or deceiving the public in 
any manner as to real rates charged for freight, express or pas- 
sengers. 

(6) To make just and reasonable through rates for the trans- Through rates for 
portation of freight, express or jiassengers. transportation. 

(7) To make just and reasonable rules and regulations for the Handling of 
handling of freight and baggage at stations. baggage." 

(8) To make just and reasonable rates of charges for the trans- Transportation by 
portation of packages by any express company or corporation. express company. 

(9) To make just and reasonable rules and regulations as to Company's con- 
contracts entered into by any railroad company or corporation cSs of other^com- 
to carry over its line or any part thereof the car or cars of any P^"'^^- 

other company or corporation. 

(10) To make just and reasonable rates of charges lor the trans- Transmission of 
mis.sion of messages by any telegraph or telephone company or ^ ^s^^^™^ 
corporation doing business in this state. 

(11) To make just and reasonable rates of charges for the rental Telephone 
of tt'lephones: Provided, this sub-section shall not apply to tele- 
phone lines hereafter constructed, nor to telephone instruments 
connected with the exchanges giving ir»terstate connection until 

three years after the ratification of this act 

(12) To require, where the public necessity demands and it is May require estab- 
demonstrated that the revenue received will be !?ufficient to just- stations. 

ify it. the establishment of stations by any company or corpora- 
tion engaged in the transportation of freight and passengers in 
this state, and to require the erection of depot accommodations 
commensurate with such business and revenue: Provided, the Proviso 
commissioners shall nut require any company or corporation to 
establish any station nearer to another station than five miles. 

(13) To require a change of any station or the repairs, addition May require 
to or change of any station house by any railroad or other trans '"^P^i^s at sta- 

-' '' tions, etc 

portation company in order to promote the security, convenience 



Corporation Commission Act. 



Separate waiting 
rooms 



Construction of 
side-tracks. 



Proviso. 



Powers over bank- 
ing institutions 



Appointment of 
persons to make 
certain examina- 
tions and reports 



Information to 
state treasurer. 



Collection of 
fees, etc. 



Jurisdiction as to 
building and loan 
associations 



Examination, etc 
of building and 
loan associations. 



and accommodation of the public and to require the raising or 
lowering of the track at any crossing when deemed necessary. 

(14) To require the estabhshment of separate waiting-rooms at 
all stations for the white and colored races. 

(15) To require the construction of side tracks by any railroad 
company to industries already established or to be established: 
Provided, it is shown that the proportion of such revenue accru- 
ing to such side-track is sufficient within five years to pay the 
expenses of its construction. This shall not be construed to give 
the commissioners authority to require railroad companies to 
construct side tracks more than five hundred feet. 

(16) To perform al! the duties and exercise all the powers as to 
banks and banking imposed or conferred upon the state treas- 
urer by chapter one hundred and flfty-flve of the public laws of 
eighteen hundred and ninety-one, as amended by chapter four 
hundred and seventy-eight, public laws of eighteen hundred 
and ninety-three, and all reports req iired to be made by s^iid 
laws to the state treasurer are hereby directed to be made to the 
said North Carolina Corporation Commission. 

(17j To appoint suitable pesons to make the examinations and 
reports required by chapter one hundred and fifty-five, public 
laws of eighteen hundred and ninety-one, as amended by chap- 
ter four hundred and seventy-eight, public laws of eighteen hun- 
dred and ninety-three, who shall receive the same compensation 
for similar services provided for in said law, and the power of the 
state treasurer to appoint such persons is hereby revoked. 

(18) To furnish to the state treasurer upon his application in- 
formation as to the condition and solvency of any bank or bank- 
ing institution of this state. 

(19) To collect all fees, salaries, charges, commissions and other 
compensations heretofore collected by or paid to the state treas- 
urer for the performance of the duties and the exercise of the 
powers imposed or conferred under sub-sections sixteen, seven- 
teen and eighteen of this act and to turn the same into the state 
treasury for the benefit of the state. 

(20) To perform all the duties and exercise all the powers as 
to building and loan associations imposed or conferred upon the 
auditor of the state by chapter seven, volume two, of The Code 
and by chapter four hundred and thirty-four, public laws of 
eighteen hundred and ninety-three and by chapter four hundred 
and forty-four, public laws of eighteen hundred and ninety-five, 
and to make all examinations, issue all certificates and perform 
all other duties imposed by law upon the auditor of the state re- 
lating to building and loan associations. 

(21) To appoint suitable persons to make the examinations re- 
quired by the laws referred to in the preceding section, who shall 
receive the same compensation provided for in said laws, and the 
power of the auditor of the state to make such appointments is 
hereby revoked. 



N. C. Corporation Commission. 5 

(22) To collect all fees, salaries, charges, commissions and other Collection of fees, 
compensations heretofore collected by the auditor of the state for 

the performance of the duties imposed or conferred under sub- 
sections twenty and twenty-one of this act, and to turn the same 
into the state treasury for the benefit of the state, and the power 
of the auditor of the state to collect the same is hereby revoked. 

(23) To perforui all the duties and exercise all the powers im- Perform certain 

duties. 

posed or conferred by chapter three hundred and twenty (320) of 
the public laws of eighteen hundred and ninety-one and the acts 
amendatory thereto. 

(24) To prescribe rules of practice and proceeding in all mat- '^^ P^^^^^'^^ ^"^^s- 
ters before them and in all examinations necessary to be made 

under this act. 
Sec. 3. That it shall be the duty of the state treasurer to turn Treasurer shall 

^^ . ^M I . r^ • ^, . . 1 1 . I ^"^" °^^r books 

over to the North Carolina Corporation Commission all books and papers to 
papers, statements and other records in his office relating to the commission. 
duties imposed by this act in regard to banks and banking iusti 
tutions. 

Sec. 4. That it shall be the duty of the auditor of the state to Auditor authorized 
turn over to the North Carolina Corporation Commission all tain books, etc., to 
books, papers, statements and other records in his otiice relating ^^"^"^^ssion. 
to the duties imposed by this act in regard to building and loan 
associations. 

Sec. 5. That it shall be the duty of the late board of railroad Retiring board 

. . of railroad com- 

couimissioners to turn over to the North Carolina Corporation missioners author- 
Commission all books, papers, statements and other records in boolis^and papers. 
their office relating to the duties imposed by this act in regard to 
railroads, telegraphs telephones, steamboats and other transpor- 
tation companies 

Sec 6. That all contracts and agreements between railroad Contracts between 

railroads as to 

companies doing business in this state as to rates of freight and tariffs, examina- 
passenger tariffs shall be submitted to said commission tor in- 
spection and correction, that it may be seen whether or not they 
are a violation of law or of the provisions of this act or of the 
rules and regulations of said commission, and all arrangements 
and agreements whatever as to the division of earnings of any 
kind by ctmipeting railroad companies doing business in this 
state shall be submitted to said commission for inspection and 
approval in so far as they affect rules and regulations made by 
said cooimission to secure to all persons doing business with said 
companies just and reasonable rates of freight and passenger 
tariffs, and said commission may make such rules and regula- 
tions as to such contracts and agreements as may then be Rules and reguia- 
deemed necessary and proper, and any such agreements not ap- Ji-aJts^^ ^° ^^'^ 
proved by such commission or by virtue of which rates shall be 
charged exceeding the rates fixed for freight and passengers shall 
be deemed, held and taken to be violations of this act and shall 
be illegal and void. 



Corporation Commission Act. 



Schedule of rates 
shall be taken as 
prima facie evi- 
dence 



Proviso. 



Companies may 
appeal from de- 
cision of commis- 
sion. 



Causes shall be 
tried as civil 
actions. 



Cause, how^ 
entitled. 



Sec. 7. The schedule containing rates fixed by said comoiis- 
sion shall in suits brought against SLuy such company wherein is 
ins^oWed the charges of any such company for the transportation 
of any passenger or freight or cars or unjust discrimination in re- 
lation thereto be taken in all courts of this state as prima facie 
evidence that the rates therein fixed are just and reasonable rates 
of charges for the transportation of passengers and freights and 
cars upon the railroads; and said commission shall from time to 
time and as often as circumstances may require change and re- 
vise or cause to be changed and revised said schedules. When 
anj schedule shall have been made or revised as aforesaid it shall 
be the duty of all such companies to post at all their respective 
stations in a conspicuous place a copy of said schedule for the in- 
formation of the people. All such schedules as aforesaid shall be 
received and held in all such suits as prima facie evidence the 
schedules of said commission, without further proof than the 
production of the schedules desired to be used as evidence, with 
a certificate of the clerk of the commission that the same is a 
true copy of the schedule prepared or approved by them for 
the railroad company or corporation therein named: Provided, 
that any company may appeal to the judge of the superior court 
in term time and thence to the supreme court from any determi- 
nation of the commission fixing or refusing to change the rate of 
freight or fare; but that before such company shall be allowed 
to exercise this right of appeal it shall within ten days after no- 
tice of the rates fixed by the commission file with the commission 
exceptions to the particulars that it objects to and the grounds 
thereof, and within ten days after filing such exception the com- 
mission shall hear the same, and if they shall overrule any one 
of said exceptions then such corporation, if it desires to appeal to 
said superior court, shall within ten days thereafter give notice 
of appeal to said superior court, and the said commission shall 
thereupon transmit to the superior court of some county most 
convenient to ail parties interested in said appeal a record of 
their determinations of the rates of said corporation with the ex- 
ception of the company and their decisions thereon, and all the 
papers and evidence considered by them in making their decis- 
ion. The said cause shall be placed on the civil issue docket of 
said court and shall have precedence of other civil actions, and 
shall be tried under the same rules and regulations as are pre- 
scribed for the trial of other civil causes, except that the rates 
fixed by the commission shall be prima facie just and fair: Pro- 
vided, the appeal may by consent of the commission and the 
company be heard and determined in chambers before any judge 
of a district through or into which the railroad may extend or 
any judge holding court therein. The cause shall be entitled 
" State of North Carolina on the relation of the North Carolina 
Corporation Commission against such company." Either party 



N. C. Corporation Commission. 7 

may appeal to the supreme court from the judgment of th« su- 
perior court under the same rules and regulations as prescribed 
by law for appeal, except that the state of North Carolina if it 
shall appeal shall not be required to give an undertaking or 
make any deposits to secure the cost of such appeal, and such 
court may advance the cause on their docket so as to give the 
same a speedy hearing: Provided, that the rates of freight proviso. 
and fare fixed by the commission shall be and remain the Rates of freight 
established rates and shall be so observed and regarded by iJtabHshS" 
such corpoi-ations until the same shall be changed, reversed 
or modified by the judgment of the superior court, unless the 
railroad company shall within fifteen days file with said com- 
mission a justified undertaking (in a sum to be fixed by said 
commission) conditioned to pay into the treasury of North Caro- 
lina the difference between the aggregate freights charged or re- 
ceived and those fixed by said commission and to make a report 
of freights charged or received every three months during the 
pendency of such appeal, and whenever the aforesaid difference 
in freights equals or exceeds the penalty of such undertaking or 
undertakings said commission may require another to be exe- 
cuted and filed with them. From the time the undertaking first 
mentioned is filed as aforesaid the judgment appealed from shall when judgment is 
be vacated, but a failure for ten days to file any additional under- ^^^^ ^ 
taking required as aforesaid by said commission shall eo instanti 
revive such judgment, Out of the funds paid into said treasury overpaid freight 
under this section shall be refunded to shippers the over-paid gJippgJs/° 
freight ascertained by the final determination of the appeal on 
the recommendation of said commission: Provided, application proviso. 
therefor is made within one year from such final determination. 
Said undertaking shall be payable to the state of North Carolina undertaking, to 
and sued on as other undertakings which are payable to gaid ^^"^"^ P^^^^^®- 
state: And provided further, that such rates fixed by the com- 
mission when approved or confirmed by the judgment of the 
superior court shall be and remain the established rates and shall 
be so observed and regarded by such corporation until the same 
shall be changed, revised or modified by the final judgment of 
the supreme court if there shall be an appeal thereto. No judge During appeal 
shall grant an injunction, restraining order or other process stay- shaii"'b°granted. 
ing or affecting during the pending of such appeal the enforce- 
ment of any such determination of the said North Carolina Cor- 
poration Commission fixing rates or fares without requiring as a 
condition precedent the executing and filing with said North 
Carolina Corporation Commission a justified undertaking in the 
sum of not less than twenty-five thouf?and dollars for all compa- 
nies whose road is of less length than fifty miles and fifty thou- 
sand dollars for companies whose road is over fifty miles in length, 
conditioned that the company will make and file with the said Quarterly state- 
North Carolina Corporation Commission a sworn statement every ™^° * 



Corporation Commission Act. 



When determina- 
tion of commis 
sion is affirmed. 



Commission shall 
notify appellant 
another under- 
taking required. 



Failure to file 
undertaking. 



When sworn state 
ments as required 
are not made, 
penalty. 



Proviso. 



Recovery of under 
takings, how 
applied. 



three months during the pending of said appeal of the items of 
freight, with names of shippers, carried over said company's 
road within the preceding ninety days, showing the freights 
charged and those fixed by the said North Carohna Corporation 
Commission; and that in the event the determination of the said 
North Carohna Corporation Commi.*<sion appealed from is 
affirmed in part or in whole the said company shall within thirty 
days pay into the treasury of North Carolina the aggregate dif- 
ference between the freights collected and those fixed by the 
final determination of the matter appealed. Whenever the ag- 
gregate difference between the freights collected and those fixed 
by the North Carolina Corporation Commission shall equal or 
exceed the sum specified in said undertaking the said North Car- 
olina Corporation Commission shall notify the appellant or appel 
lants that another justified undertaking in like sum and with the 
same conditions as aforesaid is required to be executed and filed 
with the said North Carolina Corporation Commission. A failure 
to file with the said North Carolina Corporation Commission the 
sworn statement provided for in this section, or any one of them 
when more than one is required or asked for, or a failure to give an 
additional undertaking when required within fifteen days from 
notice so to do, shall vacate and render null and void any re- 
straining order, injunction or other process to stay the enforce- 
ment of any determination of the said North Carolina Corpora- 
tion Commission as to schedules of rates, etc. When any of the 
conditions of such undertaking or undertakings are broken the 
said undertaking or undertakings may be sued on and enforced 
in the name of the state of North Carolina on the relation of the 
attorney-general by summons returnable to the superior court of 
any county in the state at a regular term thereof. In cases where 
the svvorn statements herein required to be made are not made 
the whole penalty of the undertaking or undertakings shall be 
enforced and paid into the state treasury. The suras paid into the 
treasury under the provisions of this section shall be used to re- 
imburse tlie shippers of freights for the excess of freights paid 
over what should have been paid, such reimbursements to be 
made on recommendation of the said North Carolina Corporation 
Commission: Provided, application therefor is made within one 
year after the determination of the appeal in which the under- 
taking or undertakings were given. The recovery in each under- 
taking shall be applied as aforesaid to such excess of freights as 
is paid during the period covered by such undertaking. The 
solicitor of the district shall prosecute the action in his court on 
behalf of the state, and shall be allow^ed such fees, to be taxed 
in the bill of costs, as the court may order; and the attorney- 
general shall prosecute on appeal to the supreme court on behalf 
of the state and shall be 'allowed such fees, to be taxed in the 
bill of costs, as the court shall allow. Section three thousand 



N. C. Corporation Commission. 9 

seven hundred and thirty-eight of The Code regulating fees shall 
apply as far as applicable to clerk of this commission. Each 
railroad corporation or other company as hereinbefore named company required 
shall within thirty days after the organization of thecommi^^sion rates^^^ 
liie with said commission a schedule of their rates of charges 
for freight and passenger tariffs, and the said commission is au- 
thorized and requited to publish the said rates or a summary 
thereof in some convenient form for the information of the pub- 
lic and quarterly thereafter the changes made in said schedules 
if they deem it advisable. 
Sec. 8. The commission, whenever in its judgment any corpo- Notice to be given 

1.. ...-. 1^1- XX I -iu to companies 

ration has violated or neglected in any respect to comply with violating laws. 
the terms of the act by which it was created or with the provis- 
ions of any law of the state not provided for in this act, shall 
give notice thereof in writing to such corporations, and if the 
violation or neglect is continued after such notice shall forthwith 
present the facts to the attorney-general, who shall take such 
proceedings thereon as he may deem expedient. 

Sec. 9. That said commission in making any examination for commissKjners 
the purpose of obtaining information pursuant to this act shall issue subpoenas 

1 J. ■ 1 i. XL i.i J f -i- I in making exami- 

have power to issue subpoenas for the attendance ot witnesses by nations. 
such rules as they may prescribe; and said witness shall receive 
for such attendance two dollars per day and five cents per mile 
travelled by the nearest practicable route in going to and return- 
ing from the place of meeting of said commission, to be ordered 
paid by the commission upon presentation of subpoinas sworn to 
by the witnesses as to the number of days served and miles trav- 
elled before the clerk of said commission, who is hereby author 
ized to administer oaths. In case any person shall willfully fail persons refusing 
or refuse to obey such subpoenas the commission shall have power aUachmeSs for^^' 
to issue an attachment for such witness and compel him to at- 
tend before the commission and give his testimony upon such 
matters as shall be lawfully required by such commission; and 
said commission shall have power to punish for contempt as in 
other cases of refusal to obey the process and order of any court. 
The clerk of said commission may serve any notice issued by cierk of commis- 
them and his return thereof shall be evidence of said service ; and notices^^ ^^^^^ 
it shall be the duty of the sheriffs in the state to serve any pro- 
cess, subpoenas and notices issued by said commissioners, and 
they shall be entitled therefor to the same fees as are prescribed or 
may be prescribed for serving summcns issuing from the superior 
court, and they shall be liable to the same fines and penalties 
for failure to discharge their duties on that behalf. 

Sec. 10. That all subpoenas for witnesses to appear before said subpoenas, to 
commission or before any one or more of said commissioners, and ^^°™ directed. 
notice to persons or corporations shall be issued by one of said 
commission and be directed to any sheriff, constable or marshal 
of any city or town who shall execute the same and make due 



10 



Corporation Commission Act. 



Persons refusing 
to obey summons 
guilty of a misde- 
meanor. 



May provide for 
separate cars for 
races. 



Unreasonable 
rates, shall be 
held extortion. 



Rebates or unjust 
charges unlawful. 



Unreasonable 
preferences pro- 
hibited. 



return thereof as directed therein under the penalties prescribed 
by law for a failure to execute and return the process of any 
court; and if any person duly summoned to appear and testify 
before said commission shall fail or refuse to testify without a 
lawful excuse or shall refuse to answer any proper question pro- 
pounded to him by said commission in the discharge of duty or 
shall conduct himself in a rude, disrespectful or disorderly man- 
ner before said commission, or any of them deliberating in the 
discharge of duty, such person shall be deemed guilty of a misde- 
meanor and upon conviction thereof shall be fined not less than 
fifty nor more than one thousand dollars. 

Sec. 11. That said commission shall have power, whenever 
they deem it expedient and practicable, to require any railroad 
corporation operating a railroad or part of a railroad in this state 
to provide separate and equal accommodations for the white and 
colored races on the passenger trains, and also at the passenger 
station or waiting rooms in this state, and for failure to comply 
with the orders of said commission made under this section such 
company shall be subject to a penalty of one hundred dollars for 
each day it so fails to perform the orders of said commission. 

Sec. 12. That from and after the passage of this act if any rail- 
road doing business in this state, or any such company organ- 
ized under the laws of any other state and doing business in this 
state, shall charge, collect, demand or receive more than a fair 
and reasonable rate of toll or compensation for the transporta- 
tion of passengers or freight of any description or for the use and 
transportation of any railroad car upon its track or any of the 
branches thereof or upon any railroad in this state which has the 
right, license or permission to use, operate or control the same, 
[it] shall be deemed guilty of extortion, and upon conviction 
thereof shall be fined not less than five hundred nor more than 
five thousand dollars. 

Sec. 13. That if any common carrier subject to the provisions 
of this act shall directly or indirectly by any special rate, rebate, 
drawback or other device, charge, demand, collect or receive 
from any person or personsagreater or less compensation for any 
service rendered or to be rendered in the transportation of passen- 
gers or property subject to the provisions of this act than it charges, 
demands or collects or receives from any other person or persons for 
doing for him or them a like and contemporaneous service in the 
transportation of a like kind of traffic under substantially simi- 
lar circumstances and conditions, such common carrier shall be 
deemed guilty of unjust discrimination, which is hereby prohib- 
ited and declared to be unlawful. That it shall be unlawful for 
any common carrier subject to the provisions of this act to make 
or give any undue or unreasonable preference or advantage to 
any particular person, company, firm, corporation or locality, or 
any particular description of traffic in any respect whatsoever, or 



N. G. Corporation Commission. 11 

to subject any particular person, company, firm, corporation or 
locality or any particular description of traffic to any undue or 
unreasonable prejudice or disadvantage in any respect whatso- 
ever, and any person, persons, company or corporation violating- 
the provisions of this section shall be upon conviction thereof penalty for. 
fined not less than one thousand nor more than five thousand 
dollars for each and every offense. 
Sec. 14. That it shall be unlawful for any common carrier sub- Greater propor- 

. i . 1 . . /. ^1 ■ J X 1 • 1. tionate charges 

.lect to the provisions of this act to charge or receive any greater for short distances 
compensation in the aggregate for the transportation of passen- ""lawful, 
gers or of like kind of property under substantially similar cir- 
cumstances and conditions for a shorter than for a longer dis- 
tance over the same line in the same direction, the shorter being 
included within the longer distance; but this shall not be con- 
strued as authorizing any common carrier within the terms of 
this act to charge and receive as great compensation for a shorter 
as for a longer distance: Promded, however, that upon applica- 
tion to the commission appointed under the provisions of this act 
such common carrier may in special cases, after investigation by 
the commission, be authorized to charge less for longer than for 
shorter distances for the transportation of passengers or prop- 
erty; and the commission may from time to time prescribe the 
extent to which such designated common carrier may be relieved 
from the operation of this section of this act: Promded, that proviso, 
nothing in this act contained shall be taken as in any manner 
abridging or controlling the rates of freight charged by any rail- 
road in this state for conveying freight which comes from or goes 
beyond the boundaries of the state and on which freight less 
than local rates on any railroad carrying the same are charged Freight going 

, , beyond limits of 

by such railroads, but said railroad company shall possess the this state 
same power and right to charge such rates for carrying such 
freight as they possessed before the passage of this act: Prodded proviso. 
further, however, chat upon the complaint of any person or per- 
sons, corporation or corporations to said commission of any un- Discrimination in 
just discrimination in carrying freight which comes from or goes b^ifvestlL?ted*^^ 
beyond the boundaries of the state by any railroad company, 
whether organized under the laws of this state or organized un- 
der the laws of another state and doing business in this state, 
the said commission shall investigate said complaint, and if the 
same be sustained it shall be the duty of said commission to 
bring said complaint before the interstate commission for re- 
dress in accordance with the provisions of the act of congress 
establishing said interstate commerce commission; they shall 
receive upon application the services of the attorney-general of Attorney-general 
the state and he shall represent them before the interstate com- commission. 
merce commission: Provided further, that the North Carolina ^^°^^^°' 
Corporation Commission conjointly with such companies shall Corporation eni- 

. '' •' t- powered to make 

have authority to make special rates for the purpose of develop- special rates for 

certain industries. 



12 



Corporation Commission Act. 



Excursion rates. 



Violation of rules 
prescribed by com- 
mission unlawful. 



Penalty. 

Actions for recov- 
ery of penalties, 
when brought. 



Compensation of 

prosecuting 

attorney. 



Persons wronged 
or injured have 
right of action 



Proviso. 

When suit shall 

be brought. 



ing all manufactaring, mining, milling and internal improve- 
ments in the state: Provided further, that nothing in this act 
shall prohibit railroad or steamboat companies from making 
special passenger rates with excursion or other parties, also rates 
on such freights as are necessary for the comfort of such parties, 
subject to the approval of the commission. 

Sec. 15. That if any railroad company doing business in this 
state by its agents or employees shall be guilty of a violation of 
the rules and regulations provided and prescribed by said com- 
mission, and if after due notice of such violation given to the 
principal officers thereof, if residing in the state, and if not to 
the manager or superintendent or secretary or treasurer if resid- 
ing in the state, and it not then ro any local agent thereof, ample 
and full recompense for the wrong or injury done thereby to 
any person or corporation as may be directed by said commis 
sion shall not be made within thirty days from the time of such 
notice, such company shall incur a penalty for each offense of 
five hundred dollars. An action for the recovery of any penalty 
under this act shall be in the county in which said penalty has 
been incurred, and i^hall be instituted in the name of the state of 
North Carolina on the relation of the North Carolina Corpora- 
tion Coujmission against the conjpany incurring such penalty, 
or whenever such action is upon the complaint of any injured per- 
son or corporation it shall be instituted in the nan)e of the state 
of North Carolina on the relation of the North Carolina Corpo- 
ration Commission upon the conjplaint of such injured person or 
corporation against the company incurring such penalty. Such 
action shall be instituted and prosecuted by the attorney-general 
or the solicitor of the judicial district in which such penalty has 
been incurred, and the judge before [whom] the same is tried 
shall determine the amount of compensation to be allowed the 
attorney-general or such solicitor prosecuting said action for his 
services, and such compensation so determined shall be taxed as 
part of the cost. The procedure in such actions, the right of 
appeals and the rules regulating appeals shall be the same as 
are now^ provided by law in other civil actions. 

Sec. 16. That if any railroad company doing business in this 
state shall, in violation of any rule or regulation pi-ovided by the 
commission aforesaid, inflict any wrong or injury on any person 
such person shall have a right of action and recovery for such 
wrong or injury in the county w^here the same was done or where 
the plaintiff resides, in any court having jurisdiction thereof, 
and the damages to be recovered shall be the same as [inj an 
action between individualsexcept that incaseof willful violation 
of law such railroad companies shall be liable to exemplary dam- 
ages: Provided, that all suits under this act shall be brought 
within twelve months after the commission of the alleged wrong 
or injury: Provided further, that if an individual is killed the 



N. C. Corporation Commission. 13 

time during which there is no administration shall not be 
counted: Provided, letters of administration are taken out within 
one year from the killing. 

Sec. 17. That all railroad companies in this state shall on de- Duplicate freight 
mand issue duplicate freight receipts to shippers in which shall ^^^^^P^^- 
be stated the class or classes of freight shipped the freight 
charges over the road giving the receipt, and so far as practica- 
ble shall state the freight charges over the roads that carry such 
freight. When the consignee presents the railroad receipt to the 
agent of the railroad that delivers such freight such agent shall 
dehver the articles shipped upon payment of the rate charged 
for the class of freight mentioned in the receipt. If any railroad 
company shall violate the provisions of tliis statute not other- violation of pro 

■■ visions of this 

wise provided for such railroad company shall incur a penalty of statute unlawful. 
one hundred dollars for each violation, to be recovered by the ^"^ ^' 
party injured. 

Sec. 18. That every officer, agent or emplovee of any railroad officers refusing 

,, . L^un -i.i-ii or neglecting to 

company, express or telegraph company who shall willfully neg- make report, 
lect or refuse to make and furnish any report required by the 
commission for the purpose of this act, or who shall willfully or 
unlawfully hinder, delay or obstruct said commission in the dis- 
charge of the duties liereby imposed upon them, shall forfeit and 
pay five hundred dollars for each offense, to l:)e recovered in an 
action in the name of the state. A delay of ten days to make 
and furnish such report shall raise the presumption that the 
same was willful. 

Sec. 19. A railroad corporation which has established and main- stations estab- 

, . , , ^ ,. ■ . 1 . , lished for one 

tamed for a year a passenger station or freight depot at a point year shall not be 
upon its road shall not abandon such station or depot nor sub- ^ ^° °"^ " 
stantially diminish the accommodation furnished by the stop- 
ping of trains except by consent of a majority of the commission. 

Sec. 20. A railroad corporation may relocate passenger or Relocation of 
freight depots with the approval in writing of the commission. epots. 

Sec. 21. All common carriers subject to the provisions of this Discrimination of 
act shall according to their powers aflford all reasonable, proper neSnTjhies" 
and equal facilities for the interchange of traffic between their Prohibited, 
respective lines and for tlie forwarding and delivering of passen- 
gers and freights to and froai their several lines and those connect- 
ing therewith and shall not discriminate in their rates and 
charges against such connecting lines and connecting lines shall 
be required to make as close connection as practicable for the 
convenience of the traveling public. And said common carriers 
shall obey all rules and regulations made by ^aid commission re- 
lating to trackage. Any violation of the provisions of this sec- 
tion shali be punished by a fine of not less than five hundred 
dollars or exceeding five thousand dollars for each and every 
offense. 



14 



Corporation Commission Act. 



May handle prop Sec. 22. That nothing in this act shall prevent the carriage, 
IL^es m- state"or^ storage or hand hng of property free or at reduced rates for the 
for off/pulp^^^ United States, state or municipal governments or for charita- 
ble or educational purposes or for any corporation or association 
incorporated for the preservation and adornment of any historic 
spot, or to the employees or officers of such company or associa- 
tion while travelling in the performance of their duties, provided 
they shall not travel further than ten miles one way on any one 
trip free of charge, or to or from fairs or exhibitions for exhibi- 
tion thereat, or the free carriage of destitute and homeless per- 
sons transported by charitable societies and the necessary agents 
etiiployed in such transportation, or the free transportation of 
persons travelling in the interest of orphan asylums or homes for 
the aged and infirm or any department thereof, or officers of the 
geological survey while attending to the duties of this office, or 
ex-Confederate itoldiers attending annual reunion, or the issu- 
ance of mileage, excursion or commutation passenger tickets; 
nothing in this act shall be construed to prohibit any common 
carrier from giving reduced rates to ministers of religion or to 
municipal governments for the transportation of indigent persons 
or to inmates of national homes or state homes for disabled volun- 
teer soldiers and of soldiers' and sailors' orphan homes, including 
those about to enter and those returning home after discharge un- 
der arrangements with the boards of managers of said homes ; noth- 
ing in this act shall be construed to prevent railroads from giv^- 
ing free carriage to their own officers and employees and mem- 
bers of their families, or to prevent the principal officers of any 
railroad company or companies from exchanging passes or tickets 
with other railroad companies for their officers or employees; and 
nothing in this act contained shall in any way abridge or alter 
the remedies now existing at common law or by statute, but the 
provisions of this act are in addition to such remedies: Provided, 
that the commission shall have power to suspend any or all the 
provisions of this seetion after thirty days' notice to any com 
pany. The commissioners and their clerks shall be transported 
free of charge over all railroads and railroad trains in this state 
when travelling on official business. 
Sec. 23 That any railroad or other company or corporation 
reg^uiations^ofcor-^ whicli violates any of the provisions of this act or refuses to con- 
poration Coramis form to or obey anv rale, order or regulation of North Carolina 
Corporation Commission shall, in addition to the other penalties 
prescribed in thisact, forfeit and pay the sum of five hundred 
dollars for each offense, to be recovered in an action to be insti- 
tuted in the superior court of Wake county in the name of the 
state of North Carolina on the relation of the North Carolina 
Corporation Commission, and each day such company or corpo- 
ration continues to violate any provision of this act or continues 
to refuse to obey or perform any rule, order or regulation pre- 



Free carriage to 
officers, etc., 
permitted. 



Proviso. 



Commissioners 
aTid clerks may be 
transported free. 



Additional penal- 



N. G. Corporation Commission. 15 

scribed by said North Carolina Corporation Commission shall be 
a separate offense. 

Sec. 24. The commission may investigate the causes of any ac- investigation of 
cident on a railroad resulting in the loss of life, and of any acci ^^ci^^"'^^- 
dent not so resulting which thej^ may deem to require investiga- 
tion. 

Sec. 25. Whenever any company or corporation embraced in Controversy be- 
this act has a controversy or controversies with another such submitted to 
company or corporation or person or persons, and all the parties commission. 
to such controversy agree in writing to submit such controversy 
to the commission aforesaid as arbitrators, said commission shall 
act as such, and after due notice to all parties interested shall 
proceed to hear the same, and their award shall be final. Said 
award in cases where land or an interest in land is concerned 
shall immediately be certified to the clerk of the superior court 
of the county in which said land is situated and shall by such 
clerk be docketed in the judgment docket for said county, and 
from such docketing shall be a judgment of the superior court 
for such county. Before such arbitrators parties may appear in 
person or by attorney. 

Sec. 26. That in all eases under the provisions of this act the Rules of evidence, 
rules of evidence shall be the same as in civil actions, except as 
provided by this act. All fines recovered under the provisions 
of this act shall be paid into the state treasury to be used for Fines, how- 
such purposes as the general assembly may provide. The reme- ^pp^^^ • 
dies hereby given the persons injured shall be regarded as cumu- 
lative to the remedies now given or may be given by law against 
railroad corporations, and this act shall not be construed as re- 
pealing any statute giving such remedies. 

Sec. 27. That it shall be the duty of the Cf)m mission herein commission shall 
provided for to make to the governor annual reports of the trans- «iake annual 

'■ & 1 reports to general 

actions of their office and to recommend from time to tin)e such assembly. 
legislation as it may deem advisable under the provisions of this 
act, and the governor shall have one thousand copies of such re- 
port printed for distribution. 

Sec. 28. That the fiscal year to which all reports shall be made Fiscal year to 
which may be required of any railroad or transportation com- made. '^^^^^ ^ 
[)any by the commission under this act shall be the thirtieth of 
June as now fixed by law by the interstate commission of the 
United States: Provided, that from all decisions or determina- 
tions arising under the operation or enforcement of this act the 
party or corporation affected thereby shall be entitled to appeal 
tlierefrom as provided in section seven of this act, and when no 
exception is made to the facts as found by the commission then 
the appeal shall be taken direct to the supreme court. 

Sec. 29. That any two of said North Carolina Corporation Quorum 
Commission shall constitute a quorum for the transaction of 
business, and the chairman of said commission is hereby author- 



16 



Corporation Commission Act. 



officers of com 
mission. 



Salary of chair- 
man and commis 
sioners. 



ized and empowered to perform the duties and exercise the pow- 
ers conferred by this act as to banking and building and loan as- 
sociations: Provided, nothing herein contained shall prevent the 
other members of said commission from acting with said chair- 
man in all of said matters. 

Sec. 30. That said North Carolina Corporation Commission 
shall use and occupy the offices and rooms lately occupied by the 
board of railroad commissioners in the city of Raleigh, and they 
shall keep their office open for the transaction of business at all 
times, and it shall be the duty of the chairman of said commis- 
sion and each of said commissioners to remain in said office at 
least fifteen days in each month, unless said commissioners are 
detained from said office on official business connected with the 
duties of the office. 

Sec. 31. That the salary of the chairman of the said commis- 
sion and of the other two members of the con>mi<sion shall be 
two thousand dollars each per annum, payable monthly by the 
public treasurer on the warrant of the auditor, and they may 
elect and appoint a clerk, who shall be an expert accountant, ex- 
perienced in railroad statistics and transportation rates, whose 
salary shall be one thousand five hundred dollars, which shall be 
paid monthly on the warrant of the auditor out of any funds not 
otherwise appropriated. The office of said coujmission shall be 
office, where kept, kept in Raleigh, ar.d they shall be furnished with an office, nec- 
essary furniture and stationery, postage, lights, tire and servant, 
which shall he paid for by the public treasurer on the warrant 
of the auditor. Any one of said commissioners shall have power 
to administer an oath of affirmation in any and all matters relat- 
ing to their official duties. The general assembly shall designate 
the chairman of said commission, and in the event of the vacancy 
or the absence of the chairman the commissioners shall fill the 
vacancy pro tem. 

Sec. 32 That all the expenses of the commission except as 
hereinbefore provided, including all necessary exi)enses for trans- 
portation incurred by the commissioners or by their employees 
under their orders in making any investigation, or upon official 
business, or for any other purposes necessary for carrying out the 
provisions of this act, shall be allowed, and the auditor shall issue 
his warrant upon presentation of itemized vouchers therefor ap- 
proved by the chairman of the commission: Frovided, that the 
expenses allowed under this section shall not exceed three thous- 
and six hundred dollars annually : And provided further, when- 
ever by reason of extraordinary efficiency or fitness that may be 
required to discharge the duties of the office of the clerk properly, 
efficiently and satisfactorily to the commissioners, and the amount 
provided for in section thirty-one of this act should be inadequate 
to obtain this service, the commissioners may allow and pay to the 
clerk of said commission out of the remainder of said fund an 



Expenses of com 
mission. 



N. C. Corporation Commission. IT 

extra allowance above his regular salary in such manner as in 
their judgment they may deem expedient: Provided, that the 
amount expended under this act shall not exceed three hundred 
dollars. 

Sec. 33. That all license fees and seal tax paid into the office of ucense fees and 
the North Carolina Corporation Commission shall be turned into ^^^ ^^^ 
the state treasury; also [any] and all moneys received from fines 
and penalties. 

Sec. 34. That said North Carolina Corporation Commission Record of receipts 
shall keep a record showing in detail all receipts and disburse- f^^enS^^"^^^ 
ments. 

Sec. 35. That this act shall be in force from and after the fifth 
day of April, eighteen hundred and ninety-nine. 

Ratified the 6th day of March, A. D. 1899. 



North Carolina State Library 
Raleigh 



1—2 



INDEX CORPORATION COMMISSION ACT. 



Sec. 

Accidents— Commissiouers may investigate- 24 
Advantage or preference, undue or unrea 

sonable, forbidden 13 

Advancement of cases on docket 7 

Action — limitation as to time of bringing — 16 
Agreements and contracts to be submitted 

to the Commission 6 

not approved by Commission a violation, 6 

Appeal— right of given 7-28 

notice of 7 

undertaking on 7 

to Supreme Court 28 

heard in chambers by consent 7 

to have precedence and how tried 7 

Arbitration— of controversies by Commis- 
sion 25 

Attorney-General— to prosecute for recovery 
of undertaking on appeal to the Su- 
preme Court 7 

fees of, for services 7-15 

Commission to present facts of violation 

of Act to 8 

to represent Commission before Inter- 
state Commission 14, 15 

Auditor of State— relieved from supervision 

of building and loan associations 2 

turn over book to Corporation Commis- 
sion 4 

Aw^ard— of arbitration by Commission to be 

docketed and have force of judgment— 25 

Baggage, proper handling of 2 

Banks— supervision of Commission i, 2 

chairman may act for Commission 29 

Books and papers— Commissioners may ex- 
amine ',■ 9) 10 

building and L,oan Associations, supervision 

of I, 2 

Auditor relieved from 2 

^Canal companies, supervision of 1,2 

Cars, separate for the races 11 

•Chambers— appeal heard in by consent 7 

■Chairman of Corporation Commission— Gen 

eral Assembly to designate 31 

•Clerk- Commissioners may appoint 31 

salary of 3^ 

qualifications of 3^ 

fees allowed 7 

■certificate of schedules 7 

to serve notices 9 

Commission a Court of Record 7 

Commissioners— elected by General Assem- 
bly 1 

General Assembly to designate Chair- 
man 31 

term of office 1 

vacancies, how filled 1-31 



Sec. 
Commissioners— continued. 

oath of office of 

who eligible to election 

Commissioners— salary of 

term of office 

oath of 

free transportation 22 

shall remain in office fifteen days in 
month 30 

authorized to administer oaths 31 

may employ clerk 31 

may administer oaths 31 

may subpoena witness 9 

may examine books and papers i, 9, 10 

expenses of, how paid 32 

to make annual report 27 

to make rates < f freight and passenger 
tariffs 7 

to prevent giving rebates 2-15 

to investigate interstate rates 14 

to transmit record on appeal 7 

contracts between railroads to be sub- 
mitted to 6 

division of earnings to be submitted to— 6 
to make rules and regulations as to con- 
tracts 6 

to notify corporations of violation of Act_ 8 
to notify in writing, for repairs, etc., of 

stations 2 

separate apartments for whites and ne- 
groes II 

may suspend section 25 of this Act 22 

to make rates for express and telegraph 

companies 1,2 

may investigate railroad accidents 24 

may arbitrate causes and make awards- 25 

to publish rates of railroads 7 

to investigate books and papers i,9»io 

empowered to examine officers under 

oath 

Common Carriers— to afford facilities for in- 
terchange of traffic 21 

charging for transportation a greater 
compensation from one person than 

another 13 

Common law remedy not abridged 22 

Connecting lines to make close connection- 21 

Contempt 9 

Contract between railroads to be submitted 

to Commissioners 2,6 

rules and regulations as to contracts be 

tween railroads 6 

Controversies, must be submitted 25 

Court of Record — Commission made a i 

Cumulative remedies 26 

Damages— exemplary 16 



INDEX TO LAWS CREATING THE COMMISSION. 



19 



Sec. 
Delivery of freight— railroad companies to— 17 
Depots— erection, etc , separate waiting- 
rooms for the races 2 

not to be abandoned 19 

relocated, when 20 

Discrimination — penalty for unjust 13 

to prevent: 2,21 

Distances — unlawful to charge more for a 

shorter than a longer 14 

special cases on application to the Com 

mission 14 

Division of earnings to be submitted 6 

Duplicate of freight receipts to be given 17 

Duplicate freight receipts — what to contain- 17 

Evidence — rules of, to be observed 26 

Extortion — by railroad 12 

Express Companies — rates for, to be made 

by Commission 1-2 

Exceptions -to be filed on appeal 7 

Excursion rates 7 

Expenses— of Commission, how paid 32 

other expenses 32 

Exemplary Damages— suits to be brought 

within 7 

Fines— payable into State Treasury— 13, 15, 

23,26,33 

sheriffs fined for failure to serve process- 9 

Fiscal year 28 

Freight — rates 13 

interstate rates 14 

duplicate receipts for 17 

delivery of 17 

Commission to make tariff 2-7 

unlawful to charge more for a shorter 

than a longer distance 14 

Freight Receipts -duplicate to be given 17 

Frte or reduced rates— to 22 

Free carriage to own officers 22 

General Assembly to elect Commissioners-- i 

to designate Chairman 31 

members of. ineligible i 

Governor— Commission to make report to-_ 27 

Ineligible as Commissioners— who i 

Injunction— no Judge to grant, unless 7 

how vacated 7 

Interchange of traffic to afford facilities for_ 21 
Inierstate Commerce Commission — com- 
plaints brought to attenti m of 14 

Interstate transportation of freight 14 

Injury — action by person injured 16 

Interchange of passes 22 

Ju'lgment— vacated on filing undertaking on 

appeal 7 

revival of 7 

Limitations — as to time of bringing ac- 
tions 16 

IvOng and short haul 14 

Manufacturing— special rates for develop- 
ing 14 

Mileage tickets 22 

Notice — how served 9, 10 



Sec. 

Notice of appeal 7 

Oath — of Commissioners i 

Commissioners may administer 31 

to examine officers under i 

Office— term of i 

to be in Raleigh 31 

Officers — railroads carrying own officers free 

over road 22 

Parties — may appear before Commission by 

attorney 25 

Passenger tariff— Commissioners to make 5-7 

Passes and free transportation to officers and 

employees 21 

railroads may interchange 21 

Penalty — action for recovery of 15 

for extortion by railroad 12 

for unjust discrimination 13 

for giving undue preference 13 

for violation of rules 15 

for failure to deliver freight 17 

for failure of officers of railroads to make 

reports iS 

for failure to obey order to repair, change 

or build stations 2 

for failure to comply with order for sep- 
arate apartments for whites and ne- 
groes II 

for failure to obey order for close connec- 
tion 21 

for failure to obey rules relating to track- 
age 21 

for failure to appear before Commission 

when summoned 10 

Precedence — appeal from Commission to 

Court to have 7 

Pieference or advantage, vnidue or unrea- 
sonable, forbidden 13 

I'rima facie evidence in 7 

Process — served by sheriffs 9 

Oaalifications for Commissioners i 

Quorum 29 

' Railroad companies" — to file schedule of 
rates with Board of Railroad Commis 

sioners 7 

charging unreasonable rates guilty of 

extortion \2 

failing to make recompense 1 > 

to give duplicate freight receipts 17 

to make annual reports 27 

guilty of unjust discrimination 13 

unlawful for, to give undue preference.- 13 

to post schedules at stations 7 

not to abandon stations 39 

Railroad Commission a Court of Record 7 

Rates — freight and passenger tai-iff 2 

interstate freight ' 14 

special for developing resources 14 

Rates — special, excursion 14 

schedule of all rates to be filed with Rail 

road Commissioners 7 

reduced for certain persons 22 



20 



INDEX TO LAWS CREATING THE COMMISSION. 



Sec. 
'Raits— continued. 

Commission to make rates for trans- 
portation of freight and passengers-— 7 
reduced or free for State or United 

States 22 

Commission to make 7 

Commission to publish 7 

schedule to be pubhshed 7 

to remain vintil reversed on appeal 7 

Rebate-to prevent giving 2-13 

Reasonable rates — schedwle pritna facie 7 

Receipts— railroads to give duplicate, for 

freight 17 

Reduced rates to certain persons 22 

Record— Commission to transmit, on appeal, 7 

Recompense— failure to make 15 

Reimbursement of shippers 7 

Refunding to shippers — overpaid freight to 

be refunded 7 

Reports— failure to make, penalty 18 

Commissioners to make annual 27 

one thousand copies to be printed 27 

railroad companies to make annuall}'— 22 

fiscal year 28 

Remedies cumulative 26 

no statute repealed 13.26 

Returns— for assessment and taxation to be 

made 2 

Rules — Commission to make, as to contracts 

between railroad companies 6 

action by person injured by railroad 

violating 16 

of evidence 26 

of practice 

of trackage 21 

penalties against company tor viola- 
ting 15 

Rooms of 30 

Salaries— of Commissioners 31 

of Clerk 31 

Schedules— Commissioners to change and 

revise 7 

railroads to post at stations 7 

of rates to be published 7 

prima facie evidence, etc 7 

change of 7 

Seal Tax 33 

Separate cars— Commission may require 11 

Sheriffs— to serve process 9,10 

fees of, for services 9 

fined for failure to serve process 9 

Side tracks — construction 22 

Shippers — to be refunded overpaid fieight__ 7 

reimbursed by State Treasurer 7 

Sleeping-car companies i, 2 

Solicitor— to prosecute for recovery of under 

taking 7 



Sec. 
SoMciior— continued. 

to prosecute 15 

fees of, for services 15 

Speci A rates for development of manufac- 
turing, etc 14 

State — property of, may be carried free or at 

reduced rates 22 

Stations— repairs and changes of 2 

not to be abandoned without consent 19 

relocated by consent 20 

separate apartments for white and ne 

groes II 

Statute— giving remedy against railroad not 

repealed 26 

remedy by, not abridged 22 

appeal direct to 28 

Steamboat companies 2 

steamboats , 14 

Subpoena — how served 9, 10 

misdemeanor not to appear when sum 

moned, etc 10 

Supreme Court— appeal to 28 

Suspension from office by Governor i 

Tariffs— Commission to make rates 7, 13 

what to consider in making 2 

Term of office of Commissioners i 

Telegraph companies — rates for, to be made 

by Commission i, 2 

Telephone companies 1,2 

Tickets— mileage 22 

railroads may interchange 22 

Title of cause 7 

Trackage — rules regarding, to be observed.- 21 
Treasurer, State, relieved from supervision 

of banks 2 

shall turn over books 3 

Undertaking— on appeal 7 

Attorney-General to prosecute, when 7 

suit to recover 7 

condition of, in injunction proceedings. 7 

when additional required 7 

action on 7 

application of recovery of 7 

Undue preference- unlawful i i 

United States— property of, may be carried 

free or at reduced rates 22 

Unjust discrimination carrier charging 
greater or less compensation to one 

person than another 13 

Vacancies — how filled 1,31 

Valuation— method of, for railroad property, 20 
Violation of Act— Commission to give notice 

to corporation, etc 8 

Witnesses— Commission may subpoena i,9, 10 

fees of, and how paid 9 

failure to attend when subpoenaed 9 

punishment for contempt 9 



Acts Keiating to Commission 



CHAPTER 384, LA.WS 1899. 
An act to promote the comfort of travelers on railroad trains and for other purposes. 

The General Assemble,' of North CaroliiKi do enact : 

Section 1. That ali railroad compajiies and steamboat companies engaged as com- 
mon carriers in the transportation of passengers for hire in the state of North Caro- 
lina other than street railways shall provide separate bujb equal accommodations for 
the white and colored races on all passenger trains and steamboats carrying passen- 
gers. Such accommodations may be furnished by railroad companies either by sepa- 
rate passenger cars or by compajtments in passenger cars, which shall be provided 
by the railroads under the supervision and direction of the Board of Railroad Com- 
missioners or the officers succeeding to their powers : Provided, that this shall not 
apply to relief trains in cases of accident, to Pullman or sleeping-cars or through 
express trains that do not stop at all stations and are not used ordinarily for travel- 
ing from station to station, to negro servants in attendance on their employers, to 
officers or guards transporting prisoners, nor to prisoners so transported. 

Sec. 2. The Railroad Commissioners of this state, or the officers succeeding to 
their powers, are hereby authorized to exempt from the provisions of this act branch 
lines and nanow-guage railways, if in their judgment the enforcement of tiiis act 
be unneces-ary to secure the comfort of passengers by reason of the light volume of 
passenger traffic or the small number of colored passenger travelers on such narrow- 
guage or branch lines. 

Sec. 3. That when any coach or compartment of a car for either race shall be com- 
pletely tilled at a station where no extra coach or car can be had and the increased 
number of passengers could not be foreseen, the conductor in charge of such train 
is hereby authoriz:^d to assign and set apart a portion of a car or compartment as- 
signed for passengers of one race to passengers of the other race. 

Sec. 4. That all railroad companies shall furnish fir.st and second-class passenger 
accommodations. 

Sec. 5. That any railroad company failing to comply in good faith with the pro- 
visions of this act shall be liable to a penalty of $100.00 per day, to be recovered in 
an action brought against such company by any passenger on an}- train or boat of 
any railroad or steamboat company which is required by this act to furnish sepa- 
rate accommodations to the races, who has been furnished accommodations on such 
railroad train or steamboat in only a car or compartment with a person of a differ- 
ent race in violation of the provisions of this act. 

Sec. 6. This act shall be in force from and after its ratification. 

Ratified tlie 4th day of March. A. D. 1899. 



22 N. C. CORPORATION COMMISSION. 

An act to amend chapter forty-nine of The Code. 

The General Assembly of North Carolina do enact : 

Section 1. That the Board of Railroad Commissioners of North Carolina are hereby 
empowered, whenever it shall appear wise and proper so to do, to authorize, allow 
and permit any railroad company operating in this state to run one or more fast 
mail trains over its road which shall only stop at such stations on the line of the 
i*oad as may be designated by the company : Provided, that in addition to such fast 
mail train said railroad shall run at least one passenger train in each direction over 
its road on every day except Sunday, which shall stop at every station oil the road 
at which passengers may wish to be taken up or put off : Provided, nothing in this 
act shall be construed to authorize any company, persons or corporations to run any 
trains over the Petersburg Railroad between Weldon and the state line after the 
expiration of the extension of the charter granted to that company by this state in 
one thousand eight hundred and ninety-one. unless and until the charter of said 
Petersburg Railroad shall b^ renewed by this General Assembly : Provided further, 
that nothing ia this act shall be construed as preventing the running of local pas- 
senger trains on Sunday. 

Sec. 2. That this act shall be in force from and after its ratification. 

Ratified the 9th day of February, A. D. 1893. 



An act in regard to the delivery affreight. 

The General Assembly of North Carolina do enact : 

Section 1. That whenever any goods, articles of freight of any kind shall be re- 
ceived by any common carrier in this state to be delivered to any consignee in this 
state, and a portion of the same shall not have been received at the place of desti- 
nation, it shall not be lawful for the carrier to demand any part of the charges for 
freight or transportation due for such portion of the shipment as shall not have 
reached the place of destination. The carrier shall be required to deliver to the con- 
signee such portion of the consignment as shall have been received upon the pay- 
ment or tender of the freight charges due upon such portion. But nothing in this 
act shall be construed as interfering with or depriving a consignor, or other person 
having authority, to his rights of stoppage in transitu. 

Sec. 2. The Railroad Commissioners shall enforce the enforcement of the provis- 
ions of this act by appropriate regulations, and this act shall be in force from and 
after its ratification. 

Ratified the 6th day of March, A. D. 1893. 



An act to amend section one thousand nine hundred and fifty-nine of The Code, requiring 
railroad companies to render annual reports to the governor of the operations for the 
year. 

The General Assembly of North Carolina do enact : 

Section 1. That section one thousand nine hundred and fifty-nine of The Code 
be and the same is hereby amended by adding the following at the end of said sec- 



ACTS RELATING TO COMMISSION. 23 

tion : '^Provided, that if the report herein mentioned shall be made to the Board of 
Railroad Commissioners instead of to the governor, it shall be deemed a sufficient 
compliance with the requirements of this section.'' 

Sec. 2. That this act shall be in force from and after its ratification. 

Ratified the 14th day of February, A. D. 1893. 



CHAPTER 155, LAWS 189!, AS AMENDED BY CHAPTER 478, LAWS 1893. 

An act to require banks, banking institutions and bankers witbin the state of North Caro- 
lina to make stated reports to the state treasurer. 

The General Assembly of North Carolina do enact : 

Section 1. That all joint companies now organized, or that may hereafter be or- 
ganized under the laws of this state for the purpose of conducting a banking busi- 
ness, whether savings or general, and all private banks and bankers that solicit or 
receive depof^its, shall be required to make to the state treasurer statements of their 
financial condition at such times identically as the national banks organized under 
the laws of the United States are required to make their statement to the comp- 
troller of the currency, and also to publish such statements in condensed form, as 
published by said national banks, in some newspaper printed in the city or town 
where such banking business may be carried on, and if none there, then in a news- 
paper published in a town nearest thereto. Said statement shall be made in accord- 
ance with the form to be prescribed by the state treasurer and shall be certified 
under oath by the president or cashier of the bank and attested by at least three of 
the directors of the bank. And in the case of private banks and bankers as herein 
set forth, shall be certified under oath by the president, manager or individual con- 
ducting said private bank, or the owner, manager or individual banker aforesaid. 
It shall be the duty of the state treasurer to call upon the banks, banking institu- 
tion and bankers aforesaid for the statement hereinbefore mentioned, and at the 
times prescribed, and to have prepared such blank forms as may be necessary to 
carry out the provisions of this act. Whenever calls for statements are made by 
the state treasurer he shall forward to each bank, banking institution and banker 
in the state two blank statements, one copy of which, after being properly filled 
out and certified to by the bank, banking institution or banker to which it is sent, 
shall be returned to the state treasurer within ten days next succeeding the date of 
such call, and the other copy, filled up in like manner, shall be filed in the office of 
said bank, banking institution or banker as aforesaid ; and it shall be the duty of 
the state treasurer to appoint some one to make special examination in person into 
the condition, affairs and business of such banks, banking institutions and bankers 
as aforesaid, and in doing so to examine any of the officers, managers, individuals 
or agents thereof, and inspect all books and papers ; who shall make a full and de- 
tailed report of the condition of said bank, banking institution or banker to the 
state treasurer, " And if upon such report it shall appear that the condition of any 
bank, banking institution or banker is precarious, or in any way unsatisfactory, it 
shall be the duty of the said treasurer to give notice to such bank, banking institu- 
tion or banker to correct any errors or irregularities, and make good any deficien- 
cies or losses shown in such reports or otherwise, within, thirty, sixty or ninety 
days, in his discretion, and at the end of such period the said treasurer shall order 
a special examination to be conducted, paid for and reported in like manner as regu- 
lar examinations"; and if upon said report it shall appear to the state treasurer 



24 N C. CORPORATION COMMISSION. 

that any bank, banking institution or banker is insolvent or in imminent danger of 
insolvency, or is guilty of fraud, fraudulent practices or concealments, then said 
treasurer shall institute proceedings in the superior court of Wake county for the 
purpose of winding up and settling the affairs of the said bank, banking institution 
or banker and for tlje appointment of a receiver thereof according to law : such ex- 
aminations to be made annually, at times unknown to any person except the state 
treasurer and the said examiner, and such examiner shall receive compensation for 
such examination as follows : for examining banks or banking institutions, savings 
or general, having a capital stock of twenty-five thousand dollars or less, fifteen 
dollars ; those having a capital stock of more than twenty-five thousand dollars and 
not over fifiy thousand dollars, twenty-five dollars ; and those having a capital stock 
of over fifty thousand dollars, thirty dollars. Such banking institutions and private 
bankers as aforesaid having no capital or stock shall pay ten dollars, and the said 
fees or compensation to the examiner shall be paid by the said banks, banking in- 
stitutions or bankers whose condition, affairs and business is so examined, to the 
state treasurer within thirty days after such examination, to be by him paid to the 
examiners, which fee of compensation shall be kept in a separate account by the 
state treasurer and not as a part of the general account. All expenses incurred in 
making such examinations and reports shall be borne by the bank, banking insti- 
tution or banker so examined and paid directly to said examiner. 

Sec. 2. Any bank, banking institution or bank[er] failing to comply with the pro- 
visions of this act for a period longer than ten days, after being called upon by the 
state treasurer for a statement, shall be subject to a fine of two hundred and fifty 
dollars, to be recovered by motion in the superior court of Wake county, and should 
failure to render such statement continue for thirty days next succeeding said call 
from the state trea-'Urer. then the said bank, banking institution or banker so in 
default shall be subject to a fine of one thousand dollars additional, collectible in 
like manner : and the state treasurer shall give notice of such default in a newspa- 
per published and located as prescribed in the preceding section of this act ; and it 
shall be the duty of the state treasurer to institute proceedings for the recovery of 
said fines in the i-aid superior court of Wake county upon any failure to render said 
statement. And the officer of any bank or banking institution, or the owner, man- 
ager or individual banker aforesaid who knowingly makes a false statement of the 
condition of his bank shall be deemed guilty of felony, and upon conviction shall 
be fined not less than one hundred dollars and imprisoned in the penitentiary not 
less than one nor more than five years. 

Sec. 8. That chapter one hundred and seventy-five of the laws of eighteen hun- 
dred and eighty-seven, and chapter four hundred and fifty-three of the laws of eigh- 
teen hundred and eighty-nine, and all other laws in conflict with this act are hereby 
repealed. 

Sec 4. This act shall be in force from and after its ratification. 

Ratified the 25th day of February. A. D. 1691. 

The North Carolina Corporation Commission is empowered and directed to per- 
form all the duties and exercise all the powers as to banks and banking imposed or 
conferred upon the state treasurer by the foregoing acts and the power of the 
treasurer to perform such duties is revoked. (See act hereinbefore mentioned. An 
act to establish the North Carolina Corporation Commission, section 2, sub-sections 
16 and 17.) 

For act regulating incorporation of savings banks see chapter 412, Laws 1887, 
and amended by chapter 221, Laws 1891. 



ACTS RELATING TO COMMISSION. 25 

CHAPTER 298, LAWS OF 1897. 

An act to regulate the liability of stockholders in banks chartered by the state and to 
forbid the lending of more than ten per cent of the capital of such bank to one person 
or corporation. 

The General Ass^embly of North Carolina do enact: 

Section 1. The stockholders of every bank or banking asso iation now operating 
by virtue of any charter or law of North Carolina or that may hereafter operate by 
virtue of any charter or law of North Carolina shall be held individually responsi- 
ble equally and ratably and not one for another for all contracts, debts and agree- 
ments of such association to the extent of the amounts of their stock therein at the 
par value thereof in addition to the amount invested in such share. 

Sec. 2, That any such exemption from such ] lability contained in any bank 
charter lieretofore granted by the General Asseinbly of Nortli Carolina is hereby 
repealed. 

Sec. 3. The total liabilities to any bank or banking association now operating by 
virtue of any charter or law of North ^Jarolina or tliat mny hereafter operate by 
virtue of any charter or law of North Carolina of any person or of any company, 
corporation or firm for money borrowed, including in the liabilities of a company or 
firm the liabilities of the several members thereof, shall at no time exceed one-tenth 
part of tlie amount of the capital stock of such bank or banking association actually 
paid in. But the discouni. of bills of exchange drawn in good faith against actually 
existing values and the discount of commf^rciai <^*r business paper actually owned 
by the person negotiating the same shall not be considered as money borrowed: 
Provided, this section shall not apply to banks with a jmid up capital of (me hun- 
dred thousand dollars or less. 

Sec. 4. This act shall be in force from and after its ratification. 

Ratified the 6th day of March, A. D. 1897. 



Chap. VIl, Vol. I! of The Code as Amended, Re 
lating to Building and Loan Associations. 



Sec. 2294. Associations authorized; deposit with clerk of superior court copy of arti- 
cles and pay tax l869-'70, c. 129, s. I. 

It shall be lawful for any individuals or persons in any city or county in this 
state, under any name by them to be assumed, to associate for the purpose of 
oro;anizing and establishing homestead and building associations, and being so 
associated shall, on complying with this chapter, be a body politic and corpor. 
rate, and as such shall be capable in law to hold and dispose of property, both 
real and personal, may have and use a common seal, may choose a presiding 
and other officers, may enact by-laws for the regulation of the affairs of such 
corporation, and compel the due observance of the same by fines and penalties, 
may sue and be (>:ued, plead and be impleaded, answer and be answered in any 
court in this state, and do all acts necessary for the well ordering and good gov- 
ernment of the affairs of such corporation, and shall exercise all and singular 
the powers incident to bodies politic or corporate: Provided, that before any 
such corporation shall be entitled to the privileges of this chapter, they shall 
lodge with the clerk of the superior court of the county where such corporation 
is designed to act, a copy of the articles of association of such corporation, 
signed by at least seven members and certified by the secretary thereof, to be 
recorded in the office of such clerk, and shall pay a tax of twenty-five dollars to 
said clerk, which tax shall be paid over by the clerk to the treasurer of the 
county, to the use of the school fund of the county. 

Smith V. B. & L. Asso., 73—372; Buie v. B. & L. Asso., 74—117; Mills v. B. & 
L. Asso.. 75—293; Hanner v. B. & L, Asso., 78—188; Overby v. B. & L. Asso., 
81—56; Haskins v. B. & L. Asso., 84—838. 

Sec. 2295. Alterations in articles to be certified and recorded. 1 869-'70, c. 129, s. 2. 

Any addition, alteration or amendment of, the articles of association of any 
such corporation shall be signed, certified and recorded as is provided in the 
preceding section of this chapter. 

Sec. 2296. Number of shares, etc. I869"'70, c. 129, s. 3. 

Any corporation created under and by virtue of this chapter, shall have power 
to declare in their articles of association the number of shares of which the 
capital stock of such corporation shall consist, the par value of the same, to 
limit the number which each stockholder may be allowed to hold, to prescribe 
the entrance fee to be paid by each stockholder at the time of subscribing, to 
regulate the instalments to be paid on each share, and the times at which the 
same shall be paid and payable. 



ACTS RELATING TO B. AND L. ASSOCIATIONS. 27 

Sec. 2297. May compel payment of dues. l889-'70, c. 129, s. 4. 

Any such corporation shall have power to issue to each member of such cor- 
poration a certificate of the shares of stock held by him, and to enforce the pay- 
ment of all instalments and other dues due to said corporation from the mem- 
bers or stockholders by such fines and forfeitures as the corporation may, 
from time to time, provide in the by-laws or articles of association of such cor- 
poration. 

Sec. 2298. New members to pay sum sufficient to put them on same footing with origi- 
nal members; may make additional class or classes. l869-'70, c. 129, s. 5. 
l874-'5, c. 78. 

Any person applying for membership or stock in any such corporation after 
the end of a month frotn the date of its incorporation, may be required to pay, 
on subscribing, such sums or assessments as may from time to time be fixed, 
and assessed in manner as may be provided oy said corporation, in order to 
place such new member or stockholder on like footing with the original mem- 
bers and others holding stock at the time of such application : Prodded, that 
any association that has been or may be organized under this chapter shall be 
authorized and empowered to esta^blish one or more additional class or classes 
of shares, under such rules, regulations and restrictions for issuing, paying and 
redeeming the same as to them shall appear expedient and proper, not incon- 
sistent with this chapter, or laws of the state. 

Sec. 2299. May make advances to members. l869-'70, c. 129, s. 6. 1881, c. 365. 

It shall be lawful for any such corporation at any time in advance of the time 
at which such corporation shall cea<e to exists, according to the plan contained 
in the articles of association thereof, to advance to any member thereof for such 
premium as may be agreed upon, the sum which he would be entitled to receiv^e 
upon the dissolution thereof, for any number of shares therein held by him, or 
to purchase from any member the share or shares of stock held b.y him at such 
price or sum as, according to the articles of association, such member may agree 
to receive, and on payment of said suai of money, to receive from such member 
security as is hereinafter mentioned for the payment by such members to said 
corporation of the unpaid instalments, to be paid on the share or shares of stock 
so sold or redeemed, together with interest at the rate of six per cent per an- 
num, on the sum of money so paid or advanced to such member at such times, 
and under and subject to such fines and penalties for non-payment thereof as 
may be prescribed by the articles of association of such corporation. 

Sec. 2300. Loans secured by mortgage; proviso. l869-'70, c. !29, s. 70. I870-'I, 
c. 156. 
The payment of the amount loaned and of the unpaid instalments on the 
share or shares so purchased or redeemed, with interest upon the sum of money 
paid therefor as aforesaid, at the rate heretofore mentioned, and all fines and 
penalties incurred in respect thereof by any such member, shall be secured to 
such corporation by way of mortgage on real or leasehold property, or by hy- 
pothecation of stock of such corporation held by such member as may be pro- 
vided in the articles of association of any such corporation: Prodded, in case 
of hypothecation of stock, no greater sum of money shall at any time be drawn 
out by any member than shall have already been paid in by him on all his 
shares at the time of such hypothecation. 



28 N. C. CORPORATION COMMISSION. 

Sec. 2300 (a). That every non-resident building: and loan association doing 
business in this state shall appoint a general agent or attorney, who shall be 
a citizen and resident of this state, and fiie a certificate of such appointment 
with the auditor of the state, and copies of such certificates of appointment, 
certified by the said auditor, shall be received as sufficient evidence of such ap- 
pointment before any court in this state; and such certificate shall contain a 
stipulation agreeing that so long as there may be any liability on the part of 
the applicant under any contract entered intc in pursuance of any law of this 
state, proc3SS may be served in the absence of the principal upon such general 
agent or attorney: Prooided, that service may be made upon the auditor of the 
state, and it shall be his duty in such case to transmit at once a copy of the 
process to the home office of the association. 

Sec. 2300 (b). Every association doing business under this chapter shall file in 
the office of the auditor of the state, on or before tlie first day of Marcii in each 
year, in such form as iie shall prescribe, a statement of the business standing 
and financial condition of the applicant on the preceding 31st day of December, 
signed and sworn to by said principal, or by the chief managing agent, attorney 
or officer thereof, before the auditor of state, or before a commissioner of affida- 
vits of North Carolina, or before some notary public. 

Sec. 2800 (c). Every association doing business under this act shall file in the 
office of the auditor of state a copy of the charter, articles of association, or 
other statement, showing the mode in which the applicant proposes to do busi- 
ness. 

Sec. 2800 (d). It shall be the dut y of the auditor of state to receive and thor- 
oughly examine each annual statement required by this act, and, if made in 
compliance with the requirements of this act, to publish an abstract of the same 
in one of the newspapers of the state, to be selected by the general agent or at- 
torney making such statement, and at the expense of his principal. The auditor 
of state shall be entitled to a fee of $5, to be paid by the association filing such 
statement. 

Sec. 2800 (e). That if the auditor of state shall become satisfied at any time 
that any statements made by any association licensed under this act shall be 
untrue, or in case a general agent shall fail or refuse to obey the provisions of 
this act, the auditor of state shall notify the state treasurer of such default, and 
the state treasurer shall thereupon have power to revoke and cancel such license. 

Sec. 2300 (f). It shall be the duty of any person having in his possession or 
control any books, accounts or papers of any association licensed under this act 
to exhibit the same to the auditor of state on demand, and on refusing so to 
do, or knowingly or willfully making any false statement in regard to the 
same, such person shall be deemed guilty of a misdemeanor, and upon convic- 
tion thereof shall be fined or imprisoned, or both, at the discretion of the court. 

Sec. 2300 (g). Every general agent or attorney who shall fail or refuse to per- 
form any duty required of him by this act shall forfeit and pay to the auditor 
of state 150 for every such refusal, to be recovered before any justice of the peace 
at the suit of the said auditor. 

Sec. 2800 (h). Any person who shall solicit or transact any business for or con- 
cerning any association not duly licensed as in tiiis act provided shall be guilty 
of a misdemeanor, and upon conviction thereof shall be fined or imprisoned, or 
both, in the discretion of the court. 

Sec. 2. Tliat no building and loan association shall be required to pay any 



ACTS RELATING TO B AND L. ASSOCIATIONS . 29 

tax or license except such as are specified in the "Act to Raise Revenue,"" passed 
at this session of the general assembly. 

Sec. 2300 (i). That every building" and loan association doing business in this 
state shall be authorized to issue as many classes or series and kinds of stock in- 
cluding instalment and paid-up stock as may be provided for in its charter or 
by-laws. 

Sec. 2300 (j). That any member of such association who shall borrow from it 
shall have the right at any time to pay ofT and discharge his loan by paying 
the amount received by him including the cost and expenses of making the 
loan if the same shall have been deducted therefrom with intprest at the rate of 
six per cent per annum on the whole sum received by him to the date of settle- 
ment and all premiums, fines and dues then remaining unpaid. Upon such set- 
tlement he shall be credited with only the withdrawal value as fixed by the 
charter or by-laws of such association of his shares of stock which have not 
been transferred or assigned to the association by way of or in lieu of premium 
on the loan. That in case of default by a stockholder who has borrowed from 
the association and a foreclosure of his mortgage, the amount of liis indebted 
ness to such association shall be ascertained in the manner provided by this act. 

Sec. 2300 (k). That in the settlement provided for in the foregoing sections 
no account shall be taken of the premiums paid by the borrowing member but 
the same shall be deemed the consideration of his being allowed to anticipate 
the ultimate or par value of his stock by his present use and possession thereof 
in preference to the other stockholders. 

Sec. 2300 (1) That every such association shall liave power to charge its share 
holders upon the loans to them premiums thereon to be in gross or by instal- 
ments or on its stock or by requiring them to carry additional shares of stock 
as may be provided in its charter and by-laws. 

Sec. 2300 (m). That nothing herein contained shall prevent the associations 
from contracting with its borrowing members for the restoration or reinstate- 
ment of their stock upon such terms as may be agreed upon. 

Sec. 2300 (n). That any contract made by any foreign association with any 
citizen of this state shall be deemed and considered a North Carolina contract 
and shall be [so ] constructed [con^^trued] by al! the courts of this state accord- 
ing to the laws thereof. 

Sec 2300 (o). Every such association may borrow money for the purpose of 
making loans and advances to its members. 

Sec. 2300 (p). That all laws and clauses of laws in conflict v/ith this act are 
hereby repealed oidy so far as they are in conflict therewith. 

Sec. 2300 (q). If at any time the state auaitor shall have good reason to think 
that the standing and responsibility of any building and loan association or 
company doing this business in this state of a doubtful character it shall be his 
duty to examine and investigate everything relating to the business of such 
company and to that end he is hereby authorized to appoint a suitable and 
competent person to make such investigation who shall file with the auditor a 
full report of his finding in such case. 

Sec. 2300 (r). The expenses and eost'of examination provided for in the pre- 
ceding section shall be defrayed by the company or association subjected to in- 
vestigation and each company or association doing business in this state shall 
stipulate in writing to be filed with the state auditor that it will pay all rearson- 
able «ost and expenses of such examination when it shall become necessary. 



30 N. C. CORPORATION COMMISSION. 

Sec. 2300 (s). It shall be unlawful for any pert^on to solicit business or act as 
agent for any building and loan association or company in this state without 
having procured from the state auditor a certificate that such association or 
company for which he offers to act is duly licensed by the state to do business 
for the current year in which such person solicits business or offers to act as 
agent. The state auditor shall be entitled to a, fee of fifty cents for issuing each 
such certificate to be paid by the company for which the same is issued. Any 
person violating this section shall be guilty of a misdemeanor. 

Note. — The power conferred on the auditor of the&tate in the foregoing acts 
is revoked, and all of such powers are conferred on the North Carolina Corpora- 
tion Commission by chapter 164, Laws of 1899. 



REVENUE ACT. 



Sec. 31. Laws 1897: Every building anc' loan association couducting business 
in the state shall pay annually to the state treasurer a tax according to the paid 
in capital as follows: A paid in captial of two hundred thousand dollars (|200,- 
000) or more, one handed dollars (|100) ; on paid in capital of fifty thousand dol- 
lars (150,000) and less than two hundred thousand dollars ($200,000), fifty dollars 
($50); on a paid in capital of twenty-five thousand dollars ($25,000) and less than 
fifty thousand dollars ($50,000), twenty-five dollars ($25); on a paid in capital of 
five thousand dollars ($5,000) and less than twenty five thousand dollars ($25,- 
000), ten dollars ($10); on a paid in capital of less than five thousand dollars 
($5,000), five dollars ($5): Provided, that no counties or corpora^tion shall be 
allowed to add. any additional ta>:, license or other fee. Any building aud loan 
association which does business in this state without pacing such tax shall be 
guilty of a misdemeanor. 



RULES OF PRACTICE 

IN 

CA5E5 AND PROCEEDINQ5 

BEFORE THE COURT Of ThjE N. C. CORPORATION COMMISSION. 



PUBLIC SESSIONS. 

1. The general sessions of the court for the hearing of contested cases will be 
held at its office in the Agricultural Building, Raleigh, N. C, on the first Wed- 
nesday of each month at 11 o'clock a. ni. When special sessions are held at 
other places such regulations as may be necessary will be made by the court. 

PARTIES. 

2. Where a complaint concerns anything done or omitted to be done by only 
a single carrier no other need be made a party, but if it relates to joint tariflfs, 
or matters in which two or more carriers doing business under a common con- 
trol, management or arrangement for a continuous carriage or shipment are 
interested, all the carriers constituting such line mu^t be made parties. A com 
plaint may embrace several carriers, or lines of carriers, operated separately, in 
the same proceeding, when the subject-matter of the complaint involves sub- 
stantially the same alleged violation of the law by the several carriers or lines. 
Persons or carriers not parties may apply, in any pending case or proceeding, 
for leave to intervene and to be heard upon the questions involved. 

GE?^ERAL RULES. - f,jrp yy^T^.. 

PROCEEDINGS BEFORE THE COURT. 

3. All petitions and complaints made before the court for redress of alleged 
grievances, must plainly and distinctly set forth the grounds of complaint; the 
items being numbered and objections all set forth in writing. In like manner 
all defences must be distinctly set forth in writing, and the items numbered as 
above stated. These specifications, whether of complaint or defence, may be 
accompanied, if the parties desire, by an explanation or .argument, or by any 
suggestion as to the proper remedy or policy, and may be verified by the affidavit 
of the party complaining or petitioning, taken before any person authorized to 
administer oaths in North Carolina, and when the complaint or petition is veri- 
fied, then the answer thereto shall be verified, and the verification shall con- 
form to the rules prescribed in The Code of North Carolina for the verification 
of pleadings. The parties may also be heard in person or by attorney, or by 
written argument, upon such written statement being first filed. 



32 N. C. CORPORATION COMMISSION. 

4. If a carrier complained ajj^ainst shall deem the complaint insufficient to 
show a breach of legal duty, it may, instead of filing an answer, serve on the 
complainant notice for a hearing of the case on the complaint; and in case of 
the service of such notice, the f;icts stated in the complaint will be taken as ad- 
mitted. A copy of the notice must at the same time be filed with the court. 
The filing of an answer will not be deemed an admission of the sufficiency of 
the complaint, but a motion to dismiss for insufficiency may be made at the 
hearing. 

SERVICE OF PAPERS. 

5. Copies of notices or other papers must be served upon the opposite parties 
to the proceeding, personally or by mail, and when any party shall have ap- 
peared by attorney the service upon the attorney shall be deemed proper ser- 
vice upon the party. If party so notified shall fail to answer within ten days 
after such notice, then the court in its discretion may grant the relief demanded. 

AMENDMENTS. 

6. Upon application by any petitioner or party, amendujents may be allowed 
by the court, in its discretion, to any petition, answer, or other pleading in any 
proceeding before the commission. 

ADJOURNMENT AND EXTENSION OF TIME. 

7. Adjournment and extension of time may be granted upon the application 
of parties in the discretion of the court. 

STIPULATIONS. 

8. Parties to cases and proceedings before the court may, by stipulation, duly 
signed by them and filed with the secretary, agree upon the facts, or any por- 
tion of the facts, they deem to be involved in the controversy, which agreed 
statement shall be regarded and used as evidence. It is desirable that the facts 
be thus agreed upon whenever practicable. 

HEARINGS. 

9. Upon Issue being joined by the service of answer, the court will assign a 
time and place for hearing the same which will be at its office in Raleigh, N. C, 
at its regular session, unless otherwise ordered. Witnesses will be examined 
orally before the court, unless testimony be taken or facts agreed upon as other- 
wise provided in these rules. The petitioner or complainant must in all cases 
prove the existence of the facts alleged to constitute a violation of the act, 
unless the carrier complained of shall admit the same, or shall fall to answer the 
complaint. Facts alleged in the answer must also be proved by the carrier, 
unless admitted by the petitioner. In cases of failure to answer, the court will 
take such proof of the charge as may be deemed reasonable and proper, and 
make such order thereon as the circumstances of the case appear to require. 

WITNESSES AND DEPOSITIONS. 

10. Subpoenas requiring the attendance of witnesses will be issued by any 
member of the court in all cases and proceedings before it, and witnesses will 
be required to obey the subpoenas served upon them requiring their attend- 



RULES OF PRACTICE 33 

ance or the prodaction of any books, papers, tariffs, contracts, agreements or 
documents relating- to any matter under investigation or pending- before 
the court. When a subpoena is desired for the production of books, papers or 
other documentary evidence, special application must be made to the court 
therefor, specifying the documentary evidence desired. When a cause is at 
issue on petition and answer, each party may proceed at once to take deposi- 
tions of witnesses in the manner provided by section 1357 of The Code of North 
Carolina, and transmit them to the secretary of the commission without mak- 
ing any application to or obtaining any authority from the court for that pur- 
pose. 

PROPOSED FINDINGS OF FACT. 

11. Upon the final submission of a case to the court either party may submit 
proposed findings of fact for the consideration of the court, which findings must 
embrace only the material facts of the case supposed to be established by the 
testimony. 

REPORTS. 

12. Each railroad company doing business within the state of North Carolina 
shall file in the office of the court quarterly reports showing in detail statement 
of freight and passenger earnings, operating expenses, etc., on such forms as 
may be prescribed from time to time by the court. 

STANDARD FREIGHT AND PASSENGER TARIFFS. 
STANDARD PASSENGER TARIFF. 

First Class. Second Class. 

Twelve years and older, . . . . 3Xc. per mile. 2}(c. per mile. 

Over 5 and under 12 years of age, - - One-half first-class fare. 

RULES GOVERNING THE TRANSPORTATION OF PASSENGERS. 

1. Each passenger shall be entitled to baggage not exceeding one hundred 
and fifty pounds. 

2. No more than the schedule of passenger rates shall be charged where the 
ticket office at any station shall not have been open for a reasonable time be- 
fore the departure from a station of the train upon which the passenger intends 
to be transported. 

3. At junction points, where the incoming trains arrive so near the leaving 
time of the out-going train that it is not practicable for a passenger to procure 
a ticket, no more than the schedule of passenger rates shall be charged. 

4. Railroad companies are authorized to collect the exact mileage for passen- 
ger fares if they shall make the necessary change to enable them to do so; but 
if not, no more than the nearest amount ending in 5 or shall be charged. 

5. No railroad company shall be allowed to charge more than ten cents for 
full or half-rate between regular stations when the fare would be less than that 
amount : J^rovided, where the distance is not greater than two miles or under 
the maximum charge for first-class tickets shall be ten cents, and five cents for 
second-class tickets. 

6. No more than the standard passenger tariff shall be charged passengers 
from flag stations or other stations where tickets are not kept on sale. 

7. When, in consequence of the uncertain time of arrival or departure of a 

1 3 



34 N. C. CORi'ORATrON COMMISSION. 

delayed train, it is impracticable for tickets to be purchased, no more than the 
regular standard passenger shall be charged. 

8. Passengers unprovided with tickets, when opportunity has been afforded 
them by the railroad companies to procure the same, may be required by the 
railroads to pay to the conductor twenty-five cents excess of the fare upon re- 
ceiving from the conductor a drawback ticket for twenty-five cents, which shall 
be cashed upon presentation at any ticket office of the company w^ithin twenty 
daj^s after date. 

9. The commission will consider applications for an advance or reduction in 
the standard tariff for the transportation of passengers, but no change of rates 
shall be of effect or put in force until ratified by the commission: Provided, 
that this rule shall not be construed as placing any restriction on the privilege 
of railroad companies to make special rates on excursion trains, or to issue what 
are called "commutation or mileage tickets"': Provided, no unjust discrimina- 
tion is practiced. 

10. Tickets on sale at any office in a city must be kept on sale at the depot 
ticket-office of the same railroad at the same prices. 

11. That all connecting railroads which are under the management and con- 
trol by lease, ownership or otherwise, of one and the same company, or at con- 
nection with a different company, shall be required to make close connection 
whenever practicable. 

12. Railroad companies in computing passenger rates between stations where 
fractions of a mile are to be considered, will calculate for the nearest even num- 
ber of miles. Example: For a distance of 10.49 miles or under, charge for ten 
miles; for 10.50 miles or over, charge for eleven miles, and so on. 

13. It shall be the duty of each railroad company to bulletin at every tele- 
graph station along its line, and other stations if possible, ten minutes in ad- 
vance of the schedule time of arrival of its trains, whether such train is on time 
and if behind its schedule time to state, as near as can be approximated, the 
time of its arrival. The bulletin board shall be placed in a conspicuous place 
at the ticket-office, and all notices thereon of arrival and departure of trains 
shall be erased immediately after the departure of trains. 

14. On all mixed trains, carrying passengers, where two coaches are attached, 
first and second-class tickets must be sold. 

Where only one coach is attached, only second-class rates shall be charged, 
unless the coach has separate apartments, then first and second-class rates may 
be charged. 

15. That all common carriers subject to the supervision of the railroad com- 
mission shall provide such means or appliances as may be necessary to secure 
the careful handling of and to prevent injury to any parcel of baggage to which 
a check may be affixed, as provided in section 1970 of The Code. 

That at all minor stations, where no proper appliances are supplied, and no 
regular depot hand is employed, the train hands shall be reijuired to assist the 
baggage-master, and lift with care all baggage from the car-doors. 

16. All railroad companies, in addition to the usual bell cord, shall place a 
safety-cord in each coach of the regular passenger trains, running through the 
entire length of the same. 

17. It shall be the duty of the Pullman Car Company, at all stations, on the 
stopping of trains, to have the doors of their cars open for the reception of pas- 
sengers and require the porter to have a step ready for the convenience of pas- 
sengers desiring to enter. 



RULES OF phact]Cp:. 35 

RULES GOVERNING THE TRANSPORTATION OF FREIGHT. 

1. All connecting railroads, which, are ander the management and control, by 
lease, ownership or otherwise, of one and the same company, shall, for purposes 
of transportation, in applying this tariff, be considered as constituting but one 
and the same road, and the rates shall be computed as upon parts of one and 
the same road, unless otherwise specified. 

DISTANCES. 

2. Since a separate rate can not be conveniently given for every possible dis- 
tance, the law authorizes the commission "to ascertain what shall be the limits 
of longer and shorter distances." Five (5) miles has, accordingly, been fixed 
as the limit for a change of freight rates for all distances less than one hundred 
miles; and ten (10) miles for all distances over one hundred miles. The com- 
missioners reserve the right, however, to correct the charge in extreme cases 
which work hardship, although the same may not violate the letter of our rules. 

3. For all distances over five (5) miles and under one hundred (100) miles, the 
following rule will apply: When the mileage does not end in or 5 the nearest 
mileage so ending shall govern the rate. Illustration : For a distance of twenty- 
seveti miles charge for twenty-five miles, for a distance of twenty-eight miles 
charge for thirty irsiles. 

4. When freight is transported any distance greater than one hundred miles, 
if the mileage does not end in 0, then next ten (10) miles group above shall gov- 
ern the rate. Illustrations: For one hundred and twenty-one miles charge for 
one hundred and thirty. 

5. For distances under twenty miles or over two hundred and fifty miles, a 
reduction of rates may be made without making a change at all stations short 
of two hundred and fifty miles: Frovided, however, that when any railrcad 
shall malie a reduction of rates for distances over two hundred and fifty miles, 
the same shall apply to similar distances on all the roads controlled by the same 
company, and in no case shall more be charged for a less than a greater dis- 
tance. 

REGULATIONS CONCERNINC^ FREIGHT RATES. 

6. The freight rates prescribed by the commission are maximum rates, which 
shall not be transcended by the railroads. They may carry, however, at less 
than The prescribed rates: Frovided, that if they carry for less for one person, 
they shall for the like service carry for the same lessened rate for all persons 
except as mentioned hereafter; and if they adopt less freight rates from one sta- 
tion, they shall make eu reduction of the same per cent at all stations along the 
line of the road so as to make no unjust discrimination as against any person 
or locality. But when there are between any two points in this state two or 
more competing roads not under the same management or in the same system, 
then the longer line or lines, in order to give said points the benefit of competi- 
tion, may reduce the rates between said two points below the standard tariff, 
without making a corresponding reduction at all stations along the lines of said 
roads: Frovided, said reduction shall not make the rates less than the standard 
tariff rates for the shortest line between said points: Frovided further, that be- 
fore taking effect, the proposed change of rates shall be submitted to and ap- 
proved by the commission. 

7. The rates charged for freight service by regular passenger trains may be 
one and a-half times that for first-class freight by ordinary freight trains. 



36 X. C. CORPORATION COMMISSION 

8. No railroad company shall, by reason of any contract with any expr^s, or 
other company, decline or refuse to act as a common carrier, to transport any 
article proper for transportation by the train for which it is offered. 

9. Railroad companies may collect twenty-five (25) cents as a minimum charge 
on a single shipment, however small. 

10. No railroad company doing business in this state shall permit a blockade 
of any class of freights on account or any arrangement existing between it and 
other railroad companies as to the transportation of freight according to per- 
centage or otherwise. 

11. There shall be no secret reduction of rates, nor shall any bonus be given, 
or any rebate paid to any person, but the rates shall be uniform to all, and 
public. 

12. The rates specified for ores, sand, clay, rough stone, common brick, 
bone, lumber, shingles, laths, staves, empty barrels, wood, straw, shucks, hay, 
fodder, corn in ear, tan- bark, turpentine, rosin, tar, household goods, are maxi- 
mum rates, but the roads are left free to reduce them at discretion, and all such 
rates are exempt from the operation of Rule 6. All complaints as to such rates 
will, on presentation, be dulj^ considered. 

13. When railroad companies are required to load or unload car-load ship- 
ments of classes L M, N, O and P, or to load car-load shipments of naval stores, 
the actual cost of such service shall be paid by shippers. 

14. Extra Handling — The charge for handling extra heavy articles, may 
be as follows, viz: 

Under 2,000 pounds, no charge for extra handling. 

For 2,000 lbs. and under 3,000 lbs., - - |3 for extra handling. 

For 3,000 lbs. and under 4,000 lbs., - - - 5 for extra handling. 

For 4,000 lbs. and under 5,000 lbs., - - - 7 for extra handling. 

For 5,000 lbs. and under 6,000 lbs., - - - 8 for extra handling. 

For 6,000 lbs. and under 7,000 lbs., - - - 10 for extra handling. 
For 7,000 and over in proportion. 

15. Fertilizers. — This term embraces the following and like articles, when 
intended to be used as fertilizers: Ammonia sulphate, bone black, bones ground 
or dissolved, castor pomace, or fish scrap guanos, alto vella, fish, Navassa, Na- 
vassa lump, Peruvian soluble Pacific, nitrate cake, piaster of paris, potash — 
Grerman salts of, muriate of, sulphate of — salt cake, lump and ground phos- 
phate, soda— nitrate of and sulphate of — tank stuff, etc. 

16. Vehicles designed for transportation at carrier's risk must be properly 
protected by the shipper with sufficient covering or packing from all liabilities 
to injure from fire, weather, chafing, or other injury. 

17. In no case shall the amount collected on L. C. L. shipments exceed the 
charge per car-load for the same class of goods. 

18. Railroad companies are not required to receiv^e cotton or other merchan- 
dise and warehouse the same unless the articles offered are in good shipping 
condition, well prepared by the shipper with proper packing'and.Mntelligeni, 
plain marking, and accompanied with orders for immediate shipping. 

19. Car-Load Rates apply to a shipment of a car-load or more made by one 
shipper, at one time, to one and the same point of delivery, to the same con- 
signee. 



RULES OF practice:. 



37 



ESTIMATED WEIGHTS. 

20. [[[^"Lumber, coal, lime, brick, stone, and a[l articles for which estimated 
weights are given in classification (except live stock, ale and beer, and empty 
ale and beer packages, L. C. L.), will be taken at actual weight when the 
weight can be ascertained, but when the weight can not be ascertained, will be 
charged at the following estimated weights. This is not to interfere, however, 
with the duty of receiving agent to weigh, if possible, and correct to actual 
weight: 

TO BE USED WHEN ACTUAL WEIGHTS CAN NOT BE ASCERTAINED. 



Per 1,000 ft. 

Wliite pine and poplar, thor- 
oughly seasoned 3,000 lbs. 

White pine and poplar, green 4,000 lbs. 

Yellow pine, black walnut, 

ash, seasoned 4,000 lbs. 

Yellow pine, black walnut, 

ash. green . . 4,500 lbs. 

Oak, hickory, elm, seasoned. 4,500 lbs. 

Oak. hickory, elm, green 6,000 lbs. 

All other kinds lumber, sea- 
soned 4,000 lbs. 

All other kinds lumber, green 6,000 lbs. 

Hoop-poles staves and head- Per Car. 
ing, dry, car loaded to depth 
of 50 inches 24.000 lbs. 

Hoop-poles, staves and head- 
ing, green, car loaded to 
depth of 43 inches 24.000 lbs. 



Shingles, green per 1,000 

Shingles, dry per 1,000 

Laths, green per 1 ,000 

Laths, dry per 1,000 

Tan bark, green per cord 

Tan bark, dry per cord 

Fence posts and rails 

and telegraph poles. per cord 

Clay . per cubic yard 

Sand per cubic yard 

Gravel per cubic yard 

Stone, undressed- per cubic foot 

Lime per bushel 

Coal per bushel 

Coke per bushel 

Portland cement ...per barrel 
Other cements per barrel 



Per Car 


350 lbs 


300 lbs 


530 lbs 


450 lbs 


2,600 lbs 


2,000 lbs 


3,500 lbs 


3.000 lbs 


3.000 lbs 


3,200 lbs 


160 lbs 


80 lbs 


80 lbs 


40 lbs 


400 lbs 


300 lbs 



21. In cases in which the classification of any article is lowered by a percent- 
age, railroad companies which are allowed an increase on the standard tariff 
shall apply the increase allowed to the reduced classification; but in cases in 
which the classification of any article is raised by percentage, railroad companies 
which are allow^ed an increase on the standard tariff shall not apply said in- 
crease to the already increased classification, but only to the standard tariff. 

22. 1^^ When any article is too bulky to put in a box-car, it shall be subject 
to special contract. 

23. A ton of all articles is 2,000 pounds. A car-load is 20,000 pounds, unless 
otherwise specified. For loads above 20,000 pounds, pi'o rate at car-load rates 
charged. A car load of green wood is eight cords. A car load of dry w^ood is 
nine cords. A car-load of lumber (arid all articles embraced in lumber) is 24,000 
pounds. A car-load of any article enumerated in Class P, except wood and 
lumber and articles included in lumber, is 25,000 pounds — shippers to load and 
unload: Provided, that when a car is loaded over its marked capacity by the 
shipper, the railroad companies are left free to charge for the excess a rate that 
will effectually stop a practice fraught with so much danger to life and prop- 
erty. 

24. The regulations of the railroads as to demurrage or detention of cars are 
matters of police, with which the commission will only interfere upon complaint 
of abuse. 



38 N. C. CORPORATION COMMISSION. 

25. All roads under the same or different management shall make just and 
reasonable rates for switching and exchange of business at connecting points. 
Rates now in force are continued. Any proposed change must first be submit- 
ted to the commission. Any charge now in force and shown to work a hardship 
will be corrected. 

26. All depots situated in incorporated towns and cities in this state must be 
kept open each day (Sundays excepted) for the receiving and delivery of freight 
as follows: From April 1 to September 30, between the hours of 7 a. m. and 6 
p. m. From October 1st to March 31st, 7.30 a. m. and 5 o'clock p m , with an 
intermission in each case of one hour, from 12 o'clock noon to 1 o'clock p. m. 

27. Railroad companies whose lines do not exceed ten miles in length may 
charge from any point on their road the rates prescribed for ten miles. 

28. On all shipments of freights not governed by Rule 1, originating and ter- 
minating in this state, which shall pass over the whole or portions of two or 
more roads, not under the same control, the maximum rates charged on such 
shipments shall not be greater than the sum of the local rates on such freights, 
less ten (10) per cent, for the distance hauled over each road. The total rate 
thus ascertained on such freights, from the point of shipment to the point of 
destination, shall be divided in such proportions between the roads over which 
such freights pass, so as to give to each road interested in the shipment its local 
rate, less ten (10) per cent, for the distance such shipment is hauled. Nothing 
in this rule shall be construed to prevent the total of any joint rate made under 
this rule from being divided in such proportions between the roads interested 
in the same as they may agree upon, but a failure to so agree between" the roads 
interested shall in no way affect the total joint rate to be charged and collected 
on, or w^ork delay in the transportation of such freights, or be a subject of ap- 

• peal to the commission by the roads at interest. 

29. When railroad rates are arfected by water competition, the railroads may 
reduce their rates between points so affected without being required to reduce 
intermediate rates: Provided, howtver, that if complaint is made that such com- 
petition rates unjustly discriminate against other places or persons, the com- 
missioners will investigate and rule in each case. 

30. Whenever any goods, or articles of freight of any kind, shall be received 
by any common carrier in this state, to be delivered to any consignee in this 
state, and a portion of same shall not have been received at the place of desti- 
nation, the carrier shall not demand any part of the charges for freight or 
transportation due for such portion of the shipment as shall not have reached 
the place of destination. And in case of loss, damage or overcharge of such 
freight, if the consignee present his bill of lading and the original invoice to 
the agent of the company at place of destination of such goods, within thirty 
days after notice of the loss, damage or overcharge, and said company fails or 
neglects to deliver to the consignee the goods lost or damaged, in good order, 
or refund any overcharge for thirty days after such notice, then such company 
shall be liable for the value of such goods lost or damaged or overcharged. The 
carrier shall be required to delivt-r to the consignee such portion of the con- 
signment as shall have been received, upon the payment or tender of freight 
charges due upon such portion, as provided by chapter 495, Laws 1893. 

31. No common carrier shall, for any cause, subject any article of freight to 
unreasonable delay in receiving, delivering or forwarding the same to its desti- 
nation. 

32. When a shipment is offered at a point where there are two routes over 



RULES OF PR ACTIO R. ^ 39 

connecting lines to destination, it shall be the dut}" of the railroad company 
making shipment to forward same by the shortest route, unless the rate charged 
over the longer route does not exceed that of the shorter; or unless otherwise 
ordered by the shipper. 

83, A charge of no more than two dollars per car will be allowed for switch- 
ing or transferring a car from any point on any road to any connecting road or 
w^arehouse within a space of one mile from starting point, over one and not 
more than two miles, three dollars; over two miles and not over three miles, 
four dollars, without regard to weight or contents. 

34. When in the transfer of a car between said points it is necessary to pass 
over the line of any intermediate road or roads, the maximum charge of tv/o, 
three or four dollars, as the case may be, shall be equitably divided between 
the roads at interest. 

35. When a charge is made for the transfer of loaded cars between said points, 
no additional charge shall be made for the delivery or return of the empty cars. 

36. Ail specials less than our standard rates heretofore granted by carriers 
within the jurisdiction of the commission, and which do not conflict with the 
law preventing unjust discrimination, until further orders, will be enforced. 

POSTING TAEIFFS. 

37. Each railroad company doing business within the state of North Carolina 
shall post, and keep posted, at each of its respective stations, in a conspicuous 
place, a copy of ttie schedules of freight and passenger rates prescribed for said 
road by the commission, together with a copy of the commissioner's classifica- 
tion, and a table of distances between stations, giving name of each station. 
And when any change in said schedule of rates or classification is made, either 
by the commission or by any railroad company, a copy of said change shall be 
immediately furnished the office of the commissioners, and shall also be posted' 
in the same manner as the above. 

38. The rates prescribed by the commission shall (except in cases specified) 
apply in either direction. 

EXPLANATORY ^OTES. 

In the "Commissioners' Standard Freight Tariff," under the class opposite to 
the distance, if it ends in (and if not then opposite the next greater distance), 
will be found the rate required. 

Example: To find the rate for 247 miles on a box of clothing, weighing 100 
pounds, opposite the word clothing, in the classification, is seen its class, 1; in 
the freight tariff under Class 1, opposite the next greater distance, 260 miles, is 
seen the rate 65 cents; in the column "miles," 5 signifies five miles or under; 
20, twenty miles or over 15, and so on. 

EXPLANATSON OF CHARACTERS. 



1 stands for first-olass. 

2 stands for second-class. 

3 stands for third-class. 

4 stands for fourth-class. 

5 stands for fifth-class. 

6 stands for sixth-class. 

l}4, stands for \]4. times first-olass. 

Dl stands for double first-class. 

3T1 stands for three times first class. 



4 Tl stands for four times first-class. 

A, B, C, D, E, F, H, and K, stand for 
classes A. B, C, D, E, F, H, and K, 
respectively. 

5 stands for special. 

L.C.L. stands for less than car-load. 
C.L. stands for car-load. 
N.O.S. stands for not otherwise speci- 
fied. 



Articles not enumerated will be classed with similar or analagous articles. 



40 N. C. CORPORATION COMMISSION. 

f 

RULES FOR COMPUTING FRACTIONS. 

When any rate in any class in the Standard Tariff is raised or lowered by a 
per cent, the following rales mast be observed: 

First. — If the rate thus raised or lowered is in either of classes C, D, F, J or 
K, the fraction of a half cent mast be retained, as the following examples will 
indicate: 

Ex. 1.— Standard rate ------ 6.5 

25 per cent added, ------ 1.6 

^ Total, - - - - 'sZ 

From which dedact fraction, leaving desired rate of 8 cents. 

Ex. 2.— Standard rate, - - - - - 9.5 

20 per cent added, ------ 1.9 

Total, - - 11.4 

Substituting 5 for the fraction, the desired rate is 11.5 cents. 

Ex. 3.— Standard rate, ------ 8 

20 per cent added, ------ 1.6 

Total, 9.6 

Substituting 5 for the fraction, the desired rate is 9.5 cents. 

Ex. 4. — Standard rate, - - - - - - 5.5 

25 per cent added, ----- 1.3 

Total, - - 6.8 

Adding a unit instead of a fraction, the desired rate is 7 cents. 
Second. — If the rate thus raised or lowered be in any other class than tliose 
already mentioned, omit fraction of less than half a cent and estimate half a 
cent or more as one cent, thus : 

Ex. 1.— Standard rate, ...... 17 

20 per cent added, - - - - - - 3.4 

Total, - - - - 21.6 

Deducting the fraction, the desired rate is 20 cents. 

Ex. 2.— Standard rate, -..-.. 18 

20 per cent added, - - - - - - 3.6 

Total, 21.6 

Estimating the fraction as a unit, the desired rates is 22 cents. 

Third.— In making reductions, observe the same manner of placing figures 
before deducting the percentage. 

Narrow-guage railroads, in fixing rates on all freights where a rate per car- 
load is given, will count 15,000 pounds for a car-load, and estimate their charge 
p7'o rata with rate allowed on standard guage. 

RULES GOVERNING ERECTION AND LOCATION OF DEPOTS. 

First. — From and after Wednesday, the 26th day of April, 1899, no change 
of freight or passenger depots or flag stations from their present location, nor 
the suspension of the sale of tickets, or the receiving or forwarding of freights 
from stations now in use for such purposes, will be permitted without the con- 
sent of this commission published in accordiance with law. 



RULES OF PRACTICE. 41 

Secoistd. — Application for the location of depots and the construction of de- 
pot building must be filed in the North Carolina Corporation Commission office, 
with all information needed for a full and proper understanding of all interests 
to be effected thereby. 

RULES AND REGULATIONS GOVERNING THE TRANSPORTATION OF LIVE STOCK. 

The weights given below are estimated and not actual, and are used simply 
to get the rating on live stock. To illustrate: One horse, mule or horned ani- 
mal is estimated at the same rate as 2,000 pounds of any kind of second-class 
freight at carrier's risk and fourth-class at owner's risk. Therefore, the freight 
charges for fifty miles on one horse, mule or horned animal is the same as on 
2,000 pounds of second-class freight, and would be, according to the standard 
tariff, carrier's risk, 28 cents per 100 pounds, or $5.60, ^ and at owner's risk, 20 
cents per 100 pounds, or $4.00. 

Each. Each. 

One horse, mule or horned ani- i Calves and sheep, in lots of — 

mal 2,000 lbs. ! or more 150 lbs. 

Two horses, mules or horned Lambs 100 lbs. 

animals 3,500 lbs. Lambs, in lots of five or more.. 75 lbs. 

Each additional horse, mule or Hogs for market 350 lbs. 

horned animal 1.000 lbs. I Pigs and stock hogs. 125 lbs. 



Stallions, jacks and bulls 3,000 lbs. 

Yearling cattle 1,000 lbs. 

Calves and sheep 175 lbs. 



Pigs, hogs, sheep, etc.. boxed, 
actual weight 



The rates on live stock as given in this tariff are based on the following maxi- 
mum valuations: 

Horses and mules not over . . . . |120.00 each. 

Horned cattle not over - - - - - 50.00 each. 

Stallions, jacks and bulls not over - - - 150.00 each. 

Fat hogs and fat calves not ov^er - - - - 15.00 each. 

Lambs, stock hogs, stock calves, not over - - 5.00 each. 

Race horses, stallions, Jacks, bulls and other high-priced animals when ship- 
pers are not willing to have the san^e transported at above valuations, will be 
taken only at the following rates on valuation given : 

Value from $150.00 to $400.00 add to regular rate 30 per cent. 

Value from 400.00 to 600.00 add to regular rate 40 per cent. 

Value from 600.00 to 800.00 add to regular rate 60 per cent. 

Value from 800.00 to 1 ,000.00 add to regular rate 100 per cent. 

Over $1,000 subject to special rate by contract. 

Live stock will be taken at the released or owner's risk rate only when con- 
tract is executed by shipper and station agent. 

Mixed shipment of cattle, hogs, lambs, etc., will be taken in car-loads at car- 
load rates for cattle, but carrier will be released from damage to animals caused 
by their own acts, or to each other, and from escape, if not haltered, suffoca- 
tion, exhaustion from heat or cold. 

Sucking calves accompanying cows will be charged for at rate for single 
calves. 

Sucking colts accompanying mares will be charged for at double the rate for 
single calves. 



42 N. C. CORPORATION COMMISSION. 

The word "calves" used in these rules and regulations applies only to calves 
nnder nine months old; and the words "yearling cattle" to cattle over nine 
months and under eighteen months old. 

Pigs, hogs, calves, etc., boxed, crated, or in portable pens, taken at actual 
weight, carrier's risk, first-class; owner's risk, second-class. 

In no case shall the charge for less than a car-load of live stock exceed the 
charge for a car-load. 

Shippers will be expected to feed, water and care for their stock at their own 
expense. When food is furnished by carrier, a charge will be made for the 
same and collected from consignee. 

One , two or three cars of live stock will entitle the owner or his agent to be 
carried free to point of destination of consignment, on the train with the stock 
to care for the same. Four to seven cars iuclusive, belonging to one owner, 
two men in charge ; and eight cars or more belonging to one owner, three men 
in charge, which number is the maximum number of attendants that will be 
carried free for one shipment. 

Return transportation not given to owners, agents or attendants. 



STANDARD FREIGHT RATES. 



43 



STANDARD FREIGHT TARIFF— CLASSES. 





PER 100 POUNDS. 


PEK 
, BBL 

F 


PER 

100 LBS 


PER 
TON. 


PER 
CAR LOAD. 


Miles 


I 


2 


3 


4 


1 
5 


6 


A 


B 


C 


D 


E 


H 


K 


I. 


M 


N 





P 


5 


cts 

12 


cts 
10 


cts 

8 


Cts 
6 


Cts. 
6 


Cts. 

5 


Cts. 

5 


cts 

5 


cts 

5 


cts. 

4 


cts. 
6 


cts. 

10 


cts 

6 


cts. 

4 


fo.6o 


10,85 


S9-0O 


$8.00 


$5.00 


10 


18 


13 


II 


9 


8 


7 


6 


6 


6 


5 


8 


12 


9 


5 


.70 


•95 


10.00 


9.00 


6.50 


15 


21 


16 


14 


II 


9 


7/^ 


6^ 


7 


7 


6 


9 


14 


II 


5% 


• 75 


I. GO 


11.00 


10.00 


7-50 


20 


24 


18 


16 


13 


10 


8 


7 


8 


8 


7 


10 


16 


12 


6 


.80 


1.05 


12.00 


10.00 


8.50 


25 


27 


20 


18 


14 


12 


9 


8 


9 


9 


8 


12 


18 


14 


654 


.90 


I. 15 


14.00 


11.00 


9-50 


30 


30 


24 


20 


16 


13 


10 


8 


10 


10 


8 


13 


20 


16 


7 


1. 00 


1.25 


16.00 


12.00 


10.50 


35 


33 


26 


22 


18 


14 


11 


9 


II 


10 


9 


14 


20 


18 


iy2 


1. 10 


1-35 


18.00 


14.00 


11.50 


40 


33 


26 


22 


18 


14 


II 


9 


II 


10% 


9 


14 


21 


18 


8 


I. 20 


1-35 


18.00 


14.00 


12,00 


45 


36 


28 


24 


20 


15 


12 


10 


12 


io>^ 


9 


15 


. 


20 


8 


1.20 


1.45 


20.00 


16.00 


12.00 


50 


36 


38 


34: 


30 


15 


13 


10 


13 11 


9 


15 


33 


30 


8 


130 


145 


30 00 


16 00 


13 00 


55 


39 


30 


26 


21 


16 


12 


II 


13 ! II 


10 


16 


22 


21 


8 


1.30 


1.55 


22.00 


17.00 


13.00 


60 


39 


30 


26 


21 


16 


13 


II 


13 


11/^ 


10 


16 


23 


21 


9 


1.30 


1.55 


22.00 


17.00 


13.00 


65 


42 


32 


28 


21 


17 


14 


12 


14 


11^2 


10 


17 


23 


21 


9 


1.30 


1.60 


24.00 


17,00 


13.00 


70 


42 


32 


28 


21 


17 


14 


12 


14 


12 


10 


17 


24 


21 


9 


1.30 


1.60 


24.00 


17.00 


14.00 


75 


44 


34 


30 


22 


18 


15 


13 


15 


12 


10 


18 


24 


22 


9% 


1.40 


1.65 


26.00 


18.00 


14.00 


80 


44 


34 


30 


22 


18 


15 


13 


15 


13 II' 


18 


26 


22 


9% 


1.40 


1.65 


26.00 


18.00 


14.00 


85 


46 


36 


31 


22 


19 


15 


13 


16 


.3 jn 


19 


26 


22 


9y2 


1.40 


1.70 


28.00 


18.00 


15.00 


90 


46 


36 


31 


22 


19 


15 


13 


16 


I3>^ II 


19 


27 


22 


9% 1-40 


1.70 


28.00 


18.00 


15.00 


95 


48 


38 


32 


24 


20 


16 


14 


16 


13K 


II 


20 


27 


24 


10 


1.50 


1.75 29.00 

1 


19.00 


15.00 


100 


48 


38 


33 


34 


30 


16 


14 


17 


14 


13 


30 


38 


34 


10 


150 


1 75 39 00 


19 00 


16 00 


no 


50 


40 


33 


25 


20 


16 


14 


17 


14 


12 


20 


28 


25 


10 


1.55 


1.80 


30.00 


19.00 


16.00 


120 


52 


42 


34 


25 


21 


17 


15 


iS 


15 


13 


21 


30 


25 


loK 


1.60 


1.85 


31.00 


20.00 


17.00 


130 


54 


44 


35 


26 


21 


17 


15 


18 


16 


13 


21 


32 


26 


iO% 


1.65 


1.90 


32.00 


20.00 


1 8. 00 


140 


56 


46 


36 


26 


22 


18 


16 


19 


16 


14 


22 


32 


26 


10% 


1.70 


1.95 


33-00 


21.00 


18.00 


150 


58 


48 


3T 


37 


33 


18 


16 M 


19 


IT 


14 


33 


34 


3T 


11 


1 75 


300 


34 00 


3100 


19 00 


160 


59 


49 


39 


29 


24 


19 


i6>^ 


20 


17 


15 


24 


34 


29 


II 


1.80 


2.05 


34- 00 


24.00 


19. 00 


170 


60 


50 


41 


31 


26 


20 


17 


20 


18 


^5 


26 


36 


31 


12 


1.85 


2. 10 


35-00 


25.00 


20.00 


180 


61 


5t 


42 


32 


28 


21 


17 


21 


18 


15^ 


28 


36 


32 


12 


1.50 


2. 10 


35- oc 


26.00 


20.00 


190 


62 


52 


43 


33 


29 


22 


17K 


21 


19 


i5>^ 


29 


38 


33 


12 


1.90 


2.15 


37-00 


27.00 


21.00 


300 


63 


53 


44 


34 


30 


33 


17>^ 


33 


19 


16 


.30 


38 


34 


13 


1 95 


3 30 


38 00 


38 00 


3100 


210 


63 


53 


44 


34 


30 


23 


17)^ 


22 


20 


16 


30 


40 


34 


13 


1-95 


2.20 


38.00 


28.00 


22.00 


220 


64 


54 


45' 


35 


31 


24 


18 


23 


20 


17 


31 


40 


35 


13 


2.00 


2.25 


39-00 


29.00 


22,00 


230 


64 


54 


45 


35 


31 


24 


18 


23 


21 


17 


31 


42 


35 


14 


2.00 


2.25 


39- 00 


29.00 


23.00 


240 


65 


55 


45 


35 


32 


25 


19 


24 


21 


i8 


32 


42 


36 


14 


2.05 


2.30 


40.00 


30.00 


23.00 


350 


65 


55 


45 


36 


33 


35 


19 


34 


33 


18 


33 


44 


36 


14 


3 05 


3 30 


40 00 


30 00 


3300 


260 


65 


55 


46 


36 


32 


25 


20 


25 


23 


19 


33 


45 


37 


15 


2. 10 


2.35 


41.00 


31.00 


24.00 


270 


66 


56 


46 


36 


33 26 


20 


25 


23 


19 


33 


45 


37 


15 


2. 10 


2.35 


41.00 


31.00 


24.00 



44 N. C. CORPORATION COMMISSION. 



STANDARD PASSENGER TARIFF. 

First-class. Second-class. 

Twelve years and older 33^c. per mile. 2^c. per mile. 

Over 5 years and under 12 years of age One-half first-class fare. 



STANDARD TELEGRAPHIC RATES, 

Ten body words or under Twenty-five cents. 

Over ten body words Two cents for each additional word. 

JOINT TELEGRAPHIC RATES. 

Whenever a message is sent over two or more telegraph lines owned, controlled 
and operated by separate and distinct corporations or individuals, the joint rate 
shall not exceed forty cents for such message of ten body words or less, exclusive 
of date, address and signature, between any two points within the limits of this 
State, nor more than three cents for each additional word. 



TELEPHOIME RATES. 

PLACE OF BUSINESS. 

Special wire $30.00 per year. 

Two and three party wire (each) 24.00 per year. 

Four and five party wire (each) 18.00 per year. 

RESIDENCE. 

Special wire _ - - . $18.00 per year. 

Two and three party wire (each) . 16.00 per year. 

Four and five party wire (each) 14. 00 per year. 

This tariflf does not apply to rental of telephones for long distance service, nor to telephone lines 
constructed after March 6th^ 1899, nor to telephone instruments connected with exchanges giving 
interstate services. 



FEHTILIZKR KATES. 



45 



FERTILIZER RATES. 

C. L. TEN (10) TONS MINIMUM. PER TON 2,000 POUNDS. 



5 miles and under — 

10 miles and over 5 

15 miles and over 10 

20 miles and over 15 

30 miles and over 20 

40 miles and over 30 

50 miles and over 40 

60 miles and over 50 

70 miles and over 60 

80 miles and over 70 

go miles and over So 

100 miles and over 90 

no miles and over 100 

20 miles and over 100 

130 miles and over 120 



$0,60 
.80 
1. 00 
1. 10 
1.20 
1.30 
1.40 
1.50 
1.60 
1.70 
1.80 
1.90 
2.00 
2. 10 
2.20 



140 miles and over 130 
150 miles and over 140 
160 miles and over 150 
170 miles and over 160 
180 miles and over 170 
190 miles and over 180 
200 miles and over 190 
210 miles and over 200 
220 miles and over 210 
230 miles and over 220. 
240 miles and over 230 
250 miles and over 240. 
260 miles and over 250 
270 miles and over 260. 



Per Ton 



2.30 
2.40 
2.50 

2.55 
2.60 
2.65 
2,70 

2.75 
2.80 
2.85 
2. go 
2.95 
3-00 
3-05 



On less than car-load shipments, rates may be made twenty per cent higher than 
above. The joint rates on two or more roads, not under the same management or 
control, shall be made on the basis of the sum of the locals of each road, less twenty 
per cent. 

Applicable to all railroads in the State. 



46 



N. C. CORPORATION COMMISSION. 



RATES OF FREIGHT ON COTTON SEED AND COTTON SEEDHULLS. 
Per Ton 2,000 Pounds. 



5 miles 
10 miles 
15 miles 
20 miles 
25 miles . 
30 miles 
35 miles 
40 miles . 
45 miles 
50 miles 
55 miles 
60 miles . 
65 miles . 
70 miles . 
75 miles . 
80 miles . 
85 miles . 
90 miles . 
95 miles . 



C I.. 



Per Ton. 
.60 

.70 

.80 

.80 

.90 

.90 

•95 

•95 

1. 00 

I. CO 

1.05 
1. 10 

I. ID 

I-I5 
i^i5 
i^i5 
1.20 
I. 20 
1.25 



L. C. Iv., 
Packed. 



Per Ton. 

• 75 

•87^ 
1. 00 



1.12^ 

1.18^ 
I.18K 
^•25 
1-25 

i^37K 

1-375^ 

1.43-^ 

1-43% 

1.50 

1.50 

i^56K 



100 miles 
no miles 
120 miles 
130 miles 
140 miles 
150 miles 
160 miles 
170 miles 
180 miles 
190 miles . 
200 miles 
210 miles 
220 miles 
230 miles 
240 miles 
250 miles 
260 miles 
270 miiles . 



C.I. 



Per 



Ton. 
1.25 

1.30 

1.30 

1^35 

1-35 

1.40 

1.40 

1.45 

1^45 

1.50 

1.50 

1-55 

1^55 

1.60 

1.60 

1.65 

1.65 

1.70 



L. C L., 
Packed. 



Per 



Ton. 

i-56J< 

I.62>^ 

1.621^ 

1.68% 

1.68K 

1-75 

1^75 

1.81K 

i.8ii{ 

I. 87)^ 

I •873^ 

1.93K 

i^93K 

2.00 

2.00 

2.oei< 
2.06K 
2.12^ 



Applicable to all railroads. 

The roads comprising the Seaboad Air Line System, to-wit : The Seaboard and 
Roanoke Railroad Company, The Raleigh and Gaston Railroad Company, The Dur- 
ham and Northern Railroad Company, Raleigh and Augusta Air Line Railroad 
Company, Carolina Central Railroad Company, Pittsboro Railroad Company, Pal- 
metto Railroad Company, Louisburg Railroad Company, Roanoke and Tar River 
Railroad Company, in applying the above tariff and all other tariffs, shall conform 
to Rule 1 of the Rules Governing the Transportation of Freight, as follows : 

" All connecting railroads, which are under the management and control, by 
lease, ownership or otherwise, of one and the same company, shall, for purposes of 
transportation, in applying this tariff, be considered as constituting but one and the 
same road, and the rates shall be computed as upon parts of one and the same 
road." 

That is upon a continuous mileage basis. 

The roads comprising the Atlantic Coast Line System, to-wit : The Wilmington 
and Weldon Railroad Company and its branches, Petersburg Railroad Company, 
Wilmington, Columbia and Augusta Railroad Company, Norfolk and Carolina Rail- 
road Company and the Cheraw and Darlington Railroad Company, shall likewise 
conform to Rule 1 in applying the above tariff and all other tariffs. 

The various roads and branches of roads comprising the Southern Railway Sys- 
tem in North Carolina, shall, in applying this tariff and all other tariffs, conform 
to said Rule 1 of the Rules Governing the Transportation of Freight. 



FREIGHT KATE ON FIREWOOD AND MOLASSES. 



47 



FREIGHT RATE ON FIREWOOD. 

IN CAR-LOADS RELEASED, LOADED AND UNLOADED BY SHIPPER, TEN CORDS MINIMUM. 

I to 10 miles, per cord $0.50 

10 to 15 miles, per cord - 0.55 

15 to 30 miles, per cord 0.60 

30 to 40 miles, per cord 0.70 

40 to 50 miles, per cord 0.80 

Applicable to all railroads in the State. 



FREIGHT RATE ON MOLASSES. 

IN BARRELS OR HOGSHEADS. 



Miles. 


Per 100 
Pounds. 


Miles. 


Per 100 
Pounds. 


5 


$0.04 
0.05 
0.05^ 
0.06 
0.06^ 
0.07 
0.07K 
0.08 
o.o8>^ 
0.09 
0.09 
0. 10 
0. 10 
0. II 
0. II 
0. 12 
0. 12 
0.13 


100 _ __ _ 


$0. 14 
0.15 
0.16 
0.17 
0.18 
0.18 
0.19 


10- - 








20_ . . _ 




25 








35 - -, - - - 


160 


40 _ .- 




45 - - > 


180 


0. 19 
0. 20 
0. 20 
0.20 
0.21 
0.21 
0.21 
0.22 


,; 
50 -- . - - 




55 •! 




60 : 


210 _ __ 


65 




70 - - -- - 




75— - 




80 


0^0 


85 


260 




90 _ ,_ 


270 











Applicable to all roads other than those heretofore allowed percentage above 
Commissioners Standard Tariff. The roads heretofore allowed percentage above 
Standard Tariff, shall, in applying this tariff, be allowed same percentage. 



48 N. C. CORPORATION COMMISSION. 



Relation of Railroad CompaQies to preight and Passenger 

Tariffs. 



The Railroad Companies doing business in the State of North Carolina will be al- 
lowed to apply the Standard Freight and Passenger Tariffs for the transportation of 
freight and passengers in accordance with the following table : 

ATL^^NTIC COAST LINE SYSTEM. 

Wilmington and Weldon Railroad — Main Line, Wilson and Fayetteville Branch, 
Scotland Neck Branch, Tarboro Branch, the Norfolk and Carolina Railroad and the 
Petersburg Railroad will apply Passenger Standard Tariff. 

WASHINGTON BRANCH. 

Passenger— First-class, 3^ cents per mile. 
Second-class, 3 cents per mile. 

CLINTON BRANCH. 

Passenger — Warsaw to Elliott, first-class, 25 cents; second-class, 20 cents. 
Warsaw to Clinton, first-class, 40 cents ; second-class, 35 cents. 

NASHVILLE BRANCH. 

Passenger— First-class, 3i cents per mile. 
Second-class, 3 cents per mile. 



ALBEMARLE AND RALEIGH BRANCH. 



Passenger — First-class, 3^ cents per mile. 
Second-class, 3 cents per mile. 



RELATION OF RAILROAD COMPANIES TO TARIFFS. 



49 



k 



WILMINGTON, NEW BERN AND NORFOLK RAILROAD. 

Passenger— First-class, 3^ cents per mile. 

Second-class, 3 cents per mile. 
Freight— Tariff as follows: 



DIS 
TANCE 


PER 100 POUNDS. 


PER 
BBL 


PER 100 
LBS. 


PER TON, 
2,000 LBS. 


PER CAR LOAD, 
20,000 LBS. 


Miles. 


■ 


2 


3 


4 


5 


6 


A 


B 


C 


D 


E 


F 


H 

Cts. 
6 


K 


I. 


M 


N 





p 


5 


cts 

lO 


Cts 

9 


cts 

8 


cts. 

6 


cts. 
6 


Cts. 

5 


cts. 

5 


cts 

5 


cts 

5 


cts. 

4 


cts. 

6 


Cts. 

10 


cts. 

4 


|o.6o 


$0.60 


19-00 


$8.00 


$5.00 


10 


17 


13 


II 


9 


8 


7 


6 


7 


7 


5 


9 


12 


9 


5 


0.70 


0.70 


11.00 


9.00 


6.00 


15 


21 


i6 


U 


12 


II 


9 


7 


7 


8 


S 


6 


H 


12 


6 


0.75 


0.80 


12.00 


10.00 


7.00 


20 


25 


^9 


17 


14 


13 


10 


8 


9 


9 


7 


14 


i6 


15 


7 


0.80 


0.90 


13.00 


11.00 


8.00 


25 


29 


22 


19 


i6 


14 


II 


9 


10 


10 


8 


i6 


17 


i8 


7 


0.85 


0.95 


14.00 


12.00 


9.00 


30 


32 


25 


21 


i8 


15 


12 


10 


II 


II 


9 


17 


i8 


19 


8 


0.90 


1. 00 


15.00 


13.00 


10.00 


35 


35 


2/ 


23 


20 


i6 


13 


II 


12 


12 


10 


i8 


19 


20 ■ 


8 


0.95 


1. 00 


16.00 


14.00 |II.00 


40 


37 


^9 


25 


21 


17 


U 


12 


13 


13 


11 


19 


20 


21 


9 


I. 00 


I. 10 


18.00 


15.00 


12.00 


50 


39 


30 


25 


22 


i8 


15 


li 


14 


H 


II 


20 


20 


21 


9 


1. 00 


1. 10 


18.00 


15.00 


12.00 


6o 


41 


32 


27 


23 


19 


i6 


14 


15 


15 


12 


21 


22 


22 


lO 


1. 10 


1.20 


20.00 


16.00 


14.00 


70 


43 


34 


29 


25 


20 


17 


14 


15 


15 


12 


22 


22 


22 


10 


I. 10 


1.20 


20.00 


16.00 


14.0a 


8o 


44 


35 


30 


24 


20 


17 


15 


i6 


i6 


12 


22 


22 


24 


10 


1. 10 


1.20 


20.00 


16.00 


14.00 


90 


45 


36 


31 


24 


20 


17 


15 


,6 


i6 


12 


22 


22 


24 


10 


1. 10 


1.20 


20.00 


16.00 


14.00 



Rates of freight to and from stations on Wilmington and Weldon Railroad 
and branches, same as Wilmington Main Line Tariff. 



50 



N. C. CORPORATION COMMISSION. 



WILMINGTON AND WELDON RAILROAD, INCLUDING ITS BRANCHES, 
NORFOLK AND CAROLINA RAILROAD, AND PETERSBURG RAIL- 
ROAD WILL APPLY FREIGHT TARIFF AS FOLLOWS: 



W 
o 

i 


PER 100 POUNDS. 


PER 
BBL 


PER 
100 LBS. 


PER 

J TON. 


PER CAR LOAD. 


Mi'es 


I 


2 


3 


4 


5 


6 


A 


B 


C 


D 


K 


F 


H 


K 


Iv 


M 


N 


° 


P 


5 


cts. 

12 


cts 
10 


cts. 

8 


cts. 
6 


cts. 
6 


cts. 
5 


Cts. 

5 


Cts. 

5 


cts 

5 


Cts 

4 


Cts. 

6 


Cts 

10 


cts. 
6 


cts. 

4 


.60 


•85 


$ 9.00 


$ 8.00 


$5.00 


lO 


18 


'3 


II 


9 


8 


7 


' 


6 


6 


5 


8 


12 


9 


5 


. 70 


•95 


10.00 


9.00 


6.50 


15 


21 


.6 


14 


II 


9 


9 


8 


8 


7 


6 


9 


14 


II 


5% 


•75 


I. 00 


11.00 


10.00 


7.50 


20 


24 


18 


t6 


13 


II 


9 


8 


9 


8 


7 


II 


16 


13 


6 


.80 


1.05 


12.00 


10.00 


8.50 


25 


27 


20 


18 


15 


13 


10 


9 


10 


9 


8 


13 


18 


15 


6% 


.90 


I -15 


14.00 


11.00 


9-50 


30 


30 


24 


20 


18 


M 


" 


9 


II 


10 


8 


14 


20 


18 


7 


1. 00 


I. 25 


16.00 


12.00 


10.50 


35 


33 


26 


22 


20 


■5 


12 


10 


12 


10 


9 


15 


20 


20 


7% 


1. 10 


1.35 


18.00 


14.00 


"•50 


40 


33 


26 


22 


20 


15 


12 


10 


12 


10^ 


9 


15 


21 


20 


8 


1. 10 


1.35 


18.00 


14.00 


12.00 


45 


36 


28 


24 


22 


17 


13 


II 


13 


loj^ 


9 


17 


21 


22 


8 


1.20 


1.45 


20.00 


16.00 


12.00 


50 


36 


28 


24 


22 


17 


13 


II 


13 


II 


9 


17 


22 


22 


8 


1.20 


I 45 


20.00 


16.00 


12.00 


55 


39 


30 


26 


23 


.8 


14 


12 


14 


II 


10 


18 


22 


23 


8 


1.30 


1^55 


22.00 


17.00 


13.00 


'60 


39 


30 


26 


23 


18 


14 


12 


14 


ii'A 


10 


18 


23 


23 


9 


1.30 


1.55 


22. 00 


17.00 


13.00 


^5 


42 


32 


28 


23 


19 


15 


13 


15 


11% 


10 


19 


23 


23 


9 


1.30 


1.60 


24.00 


17.00 


13.00 


70 


42 


32 


28 


23 


19 


15 


13 


15 


12 


[0 


19 


24 


23 


9 


1.30 


1.60 


24.00 


17.00 


14.00 


75 


A4- 


34 


30 


24 


20 


17 


13 


15 


12 


10 


20 


24 


24 


9% 


1.40 


1.65 


24.00 


18.00 


14.00 


80 


44 


■34 


30 


24 


20^ 


17 


13 


15 


13 


II 


20 


26 


24 


9% 


1.40 


K65 


24.00 


18.00 


14.00 


S5 


"45 


36 


3t 


24 


21 


17 


^sVa 


15^ 


13 


II 


21 


26 


24 


9% 


1.40 


170 


24.00 


18.00 


15.00 


90 


46 


36 


31 


24 


21 


17 


13/2 


15K 


I3J^ 


II 


21 


27 


24 


9% 


1.40 


1.70 


25.00 


18.00 


15.00 


100 


47 


i8 


32 


26 


22 


18 


13K 


.5>^ 


14 


li'A 


22 


28 


26 


10 


1.50 


1.75 


rs.oo 


19.00 


16.00 


no 


50 


40 


33 


27 


22 


18 


14 


16 


14 


12 


22 


28 


27 


10 


1.55 


1.80 


25.00 


19.00 


16.00 


120 


50 


42 


34 


27 


23 


19 


14 


16 


15 


12 


23 


30 


27 


10% 


1.60 


r.85 


25 CO 


20. 00 


16.75 


130 


52 


44 


35 


28 


^3 


19 


15 


17 


16 


13 


23 


32 


28 


1014 


1.60 


1.90 


25.00 


20.00 


17.00 


140 


52 


46 


36 


28 


24 


19K 


15 


17 


16 


13 


24 


32 


28 


io>^ 


1.60 


1^95 


25^05 


21.00 


17.00 


150 


:54 


47 


37 


29 


24 


20 


I5>^ 


18 


17 


14 


2^ 


34 


29 


II 


1.65 


2.00 


25.10 


21.00 


17^05 


160 


54 


47 


39 


29 


25 


20 


15% 


18 


17 


'4 


25 


34 


29 


II 


1.65 


2.05 


25.10 


22,00 


17.05 


170 


55 


4K 


40 


30 


26 


20 K 


16 


19 


18 


15 


26 


36 


30 


12 


1.65 


2. 10 


25^15 


22.50 


17^ 10 


180 


55 


48 


40 


30 


26 


20 J< 


16 


19 


18 


15 


26 


36 


30 


12 


1.65 


2.10, 


25^15 


22.50 


17.10 


190 


5^ 


49 


40M 


3oy2 


27 


203^ 


i6j< 


^9% 


18K 


15% 


27 


38 


30% 


12 


1.65 


2.15 


25.20 


23.00 


17^ 15 


200 


56 


49 


40>^' 


3o>^ 


27 


205^ 


i6^X 


19% 


181/ 


15^ 


27 


38 


303^ 


12% 


1.70 


2.18 


25.20 


23.00 


17^15 


210 


57 

1 


50 


.! 


31 


28 20% 


i6J^ 


:95<j 


i8>^ 


16 


28 


30 


31 


13 


1.70 2.20| 


25.25 


23-50 


17.20 



KELATION OF RAILROAD COMPANIES TO TARIFFS. 



51 



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52 



N. C. CORPOKATION COMMISSION. 



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'-' 



RELATION OF RAILROAD COMPANIES TO TARIFFS. 



53 



ATLANTIC AND YADKIN RAILWAY. 



Passenger— First-class, 314 cents per mile. Second-class, 3 cents per mile. 
Freight — Tariff as follows : 



DISTANCES (miles). 



PER 100 POUNDS. 



5 and 
10 and 
15 and 
20 and 
25 and 
30 and 
35 and 
40 and 
45 and 
50 and 
55 and 
60 and 
65 and 
70 and 
75 and 
80 and 
85 and 
90 and 
95 and 
100 and 
no and 
120 and 
130 and 
14.0 and 
150 and 
160 and 
170 and 
180 and 
190 and 
200 and 
210 and 
220 and 
230 and 
240 and 
250 and 
260 and 
270 and 



under--, jr? 

under ji8 

under 21 



under- 
under- 
under_ 
under- 
under. 
under, 
under- 
under- 
under_ 
under- 
under- 
under- 
under- 
under- 
under- 
under- 
under- 
under- 
under- 
under- 
under- 
under- 
under- 
under- 
utider- 
under- 
under. 
under- 



23 



10 8 

14 12 

18 16 

20 17 

19 

24 21 

2622 

26*22 

1 
9125 



under 1 64 

I 
under 64 

under 66 

under 66 

under 68 

under 68 



4i5 



6 6 
' 9 



2925 

^228i24 
322824 
34I3O25 

34|3025 
36:3226 
3^}3226 
38|3327 

38|33-27 
03527 
035*27 

42I36J2S 

, ''' 
46I3829 

47J3830 

48 1 39 30 

1 \ 
493931 

5o!4''3i 

4232 

43 33 

44 34 

53 44 34 

54 45 35 
54 45 35 
5614637 
56146 37 
58:48 38 
58I4838 



13 

13 

13 

'3 

14 

14 

14 

14 

15 

15 

15 

16 

i63^ 

17 

17 

17 

'7^2 

'7^ 

i:K 
18 

iS 

18 
18 
19 
19 



23 
23 

23K 



9 
10 
n 
12 

12 
13 
13 

'4 

15 
15 
15 
15 
16 
16 
16 
16 
17 
18 
iS 

19 
19 
19 

20 
21 
21 
22 
22 



12^ 23 

I2>^!23 
13 124 



PER 

100 LBS. 



I. 55 

1: P O . 

H o tn 

O CQ 



14 I26I 
126* 

I 
'27 

27 



H J 



6, 7 

12 8 

14; 9 
iS'io 
i6|„ 
18J12 
20 13 
2013 
22 15 
22 15 
24 16 

24 16 

25 17 
25^17 

32j|26|i8 

32 '2618 

Hhv9 

32;j27;i9 

33 27 20 

33 '27 20 
33"28'2i 
34;'29 22 

34 29 23 
35:'3o'23 



1 10 

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loYz 

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17/2 30j 
173^30; 



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14 ! 
14 i 



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23>^ 22l^ 18 
18 
18 
19 

'9 



31124 

32 1 24 
3324K 
34243^ 
34J24K 

35 1 25 
35*25 
37j25 
37125 
38;26 
3826 



^4/2! 



L I M 

i 

I 



60 85 

7o| 95 

75 I CO 

80 I 05 

901 15 

I 00' I 25 

I 10 1 35 

I 10 I 35 

1201 45 

I 20|l 45 

I 30 I 55 

I 30^1 55 

I 30 I 60 

I 30J1 60 

[ 40ji 65 

I 40 I 65 

1 401 70 

I 401 70 

I 50; I 75 

I 5o|l 75 

I 55' I 80 

I 60! I 85 

I 6511 90 



3; 9 2 ij 



900 
1 100 
1200 
1300 
1500 
1600 
1800 
1800 
2000 
2000 
2300 
2300 
2500 
2500 
2700 
2700 
2900 
2900 
3000 
3000 
3000 
3100 
3200 
3300 
3400 
3400 



1 95 
2 05 
2 10 

r 85 2 10 3500 
[ 90 2 10 '3500 
I 902 I5;:3700 
I 95 2 203800 
I 95 2 20 J3S00 



2 00 2 25 
2 00 2 25 



2 05 
2 05 
2 10 
2 10 



2 30 
2 30 
2 35 
2 35 



3900 
3900 
4000 
4000 
4100 
4100 



800 
1000 

IIOO 

1200 
1200 
1400 
1600 
1600] 
i8oo| 
iSoOi 
iSoo 
i8oo 
2000 
2000 
2000 
2000 
2100 
2100 
2100 
2100 
2200 
2200 
2300 
2400 
2400 
2500 
2500 
2600 
2700 
28CO 
2800 
2900 
2900 
3000 
30C0 
3100 



3100 2500 



500 
650 
750 
850 
950 
1050 
1150 
1200 
1200 
1200 
1300 
1300 
1300 
1400 
1400 
1400 
1500 
1500 
1500 
1600 
1600 
1700 
1800 
1800 
1900 
1900 
2000 
2000 
2100 
2100 
2200 
2200 
2300 
2300 
2300 
2400 



54 N. G. CORPORATION COMMISSION. 



Sout^err) I^ailway Company. 

ATLANTA AND CHARLOTTE AIR-LINE. 

CHARLOTTE, COLUMBIA AND AUGUSTA. 

NORTH CAROLINA RAILROAD. 

PIEDMONT RAILROAD. 

WESTERN NORTH CAROLINA RAILROAD— Salisbury to Old Fort. 

WESTERN NORTH CAROLINA RAILROAD— Asheville to Paint Rock. 

Tariff as follows : 

Passenger — Commissioners' Standard Tariff. 

FREiaHT — Commissioners' Standard Tariff. 



OLD FORT TO ASHEVILLE. 
Freight — May add 10 per cent to Commissioners' Standard Tariff. 



WESTERN NORTH CAROLINA RAILROAD— Murphy Division. 

Passenger — First-class, d}4 cents per mile. 
Second-class, 3 cents per mile. 
Freight— May add 25 per cent to Commissioners' Standard Tariff. 



ATLANTIC, TENNESSEE AND OHIO RAILROAD. 

Passenger— Commissioners' Standard Tariff. 

Freight— May add 10 per cent to Commissioners' Standard Tariff. 



ASHEVILLE AND SPARTANBURG RAILROAD. 

Passenger — Commissioners' Standard Tariff. 
Freight — May add 25 per cent to Standard Tariff. 



HIGH POINT, RANDLEMAN, ASHBORO AND SOUTHERN. 

Passenger — Commissioners' Standard Tariff. 

Freight — May add 10 per cent to Commissioners' Standard Tariff. 



RELATION OF RAILROAD COMPANIES TO TARIFFS. 



55 



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DISTANCES. 




ii 

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56 N. C. CORPORATION COMMISSION. 

NORTHWESTERN NORTH CAROLINA RAILROAD. 

GREENSBORO TO WINSTON. 

Commissioners' Standard Tariff. 

WINSTON TO WILKESBORO. 

Passenger— First-class, Si cents per mile. 
Second-class, 3 cents per mile. 
Freight — May add 25 per cent to Commissioners' Standard Tariff. 



NORTH CAROLINA MIDLAND RAILROAD. 

Passenger — First-class, 3^ cents per mile. 

Second-class, 3 cents per mile. 
Freight— May add 35 per cent to Commissioners' Standard Tariff. 



OXFORD AND CLftRKSVILLE RAILROAD COMPANY. 

Passenger — First-class, 3i cents per mile. 

Second-class. 3 cents per mile. 
Freight — May add 20 per cent to Commissioners' Standard Tariff. 



OXFORD AND HENDERSON RAILROAD COMPANY. 

Passenger— Standard Tariff. 

Freight — May add 20 per cent to Commissioners' Standard Tariff. 



YADKIN RAILROAD. 

Passenger — First-class, SI cents per mile. 

Second-class, 3 cents per mile. 
Freight — May add 25 per cent to Commissioners' Standard Tariff. 



RELATION OF RAILROAD COMPANIES TO TARIFFS. 57 

Seaboard Air Line System. 

SEABOARD AND ROANOKE RAILROAD COMPANY. 

Freight-^" 1 Commissioners' Standard Tariff. 



RALEIGH AND GASTON RAILROAD COMPANY. 

Freight— ~ [ Commissioners' Standard Tariff. 



DURHAM AND NORTHERN R\ILWW COMPANY. 

Passenger — Commissioners' Standard Tariff". 

Freight — May add 20 per cent to Commissioners' Standard Tariff. 



RALEIGH AND AUGUSTA AIR-LINE RAILROAD COMPANY. 

Passenger — Commissioners' Standard Tariff'. 

Freight— May add 15 per cent to Commissioners' Standard Tariff. 



CAROLINA CENTRAL RAILROAD COMPANY. 

Passenger— First-class, 3^ cents per mile. 
Second-class, 3 cents per mile. 
Freight — May add 30 per cent to Commissioners' Standard Tariff. 



ROANOKE AND TAR RIVER RAILROAD. 

Passenger— Commissioners' Standard Tariff. 

Freight— To Classes 1, 2, 3, 4, 5 and 6, may add 20 per cent to Commissioners' 
Standard Tariff. 
To Classes A, B, C, D, E, F, H, K, L, M, N, and O, may add 10 per 

cent to Commissioners' Standard Tariff. 
To Class B apply Commissioners' Standard Tariff. 



58 



N. C. CORPORATION COMMISSION. 



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Twelve miles and over seven 





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RELATION OP RAILROAD COMPANIES TO TARIFFS. 



59 











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60 



N. C. CORPORATION COMMISSION. 





QC 




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D 


Ul 
Lu 


O 


Q 


or 


< 

o 




cc 


(/) 


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< 


o 


cc 


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X 


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D 


IX. 




o 


CP 


o 

QC 



w 


8 . 

- (/) 

S3 

P^ 


to CO rO to 


^8 

w " en 


-\" « ' ' 


08 

a '^ -i 
<: 2; « 

Cm 


ID LO 

-a- I- r^ 00 


COTTON 

)N BALES 

PER 100 

IBS. 


UO M N 


< ^ 

< 



Ph 


8 8 8 8 





8 8 8 8 
(>. 00 00" 


?, 


8 8 8 8 

ri 00 c^ On 


W 

PH H 


S 


^5 R eg 8^ 


J 


^^ ^ R <g 


8 


W 


^ ON -I 'N CO 
►- - « 


'— > 


I 


X t-. - ts to 

- -. -, 


a: uJ 

W PS 

Ph P3 


fc 


(A 

a 

2 
8 

p< 


w 


_2 vo ON " 1 

" " 




2 m Lo vo vo 


ffi 




<J 





\o 




- 


f^ vD r^ 00 00 



- 


£] t^ ON - 
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ro 


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cs 


_2 ON « 04 to 
w - 


" 


^0 . to ^ 






1 J <u 1 
t! 5 jj 

n 1 1 

^ 2, g w 



RELATION OF RAILROAD COMPANIES TO TARIFFS. 



61 



< i 



UJ I 



•sqi 001 aad 'sp-ijeq 
ui supnadanx squids 



rO rO lO 'O 



00 tX) 00 00 



•mnuiiuiui sqi ooo'frs 
spunod ooi a^daaqiunl 



ro CO ro 



•spnnod ooi jsd tiis^oH 



uo 1/5 t^ r^ t->. 



•saiBq ni uo;;oo I H:' 



t-O '^ \o \o \o vo 



r ° 



M O 
(1. h 



O O <N ■'I- C lO O 

lo ^o t-^ oo' a\ c\ - 



;> 00 ON o 



-^ LO \0 00 



LO r-^ 00 



ujin^ r^oooo oo 



u; o -^ \o 



g a a 



a s a a 



00 


a> 


o" 


- 


2* 


« 


ir> 


:C' 


lO 


i? 


^ 

4 


a 


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lO 


^ 


^ 


o 


ID 


eg 


a 


o 
o 


8 


o 


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liO 


irj 



lO vO vO VD ^ 



u'^ lO lO 



a 


tn^ 


r^ 


00 


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>. 


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^ 


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00 


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ro 


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■<i- 


lO 


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ro 


^ 


NO 


t^ 


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CO 


ON 


ro 


o 


00 


(N 


-* 


LO 


NO 


r^ 


00 


8 


s 


?: 


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u 


o 


« 


<J~) 


^ 


00 


ON 


o 


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n 


s 





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> 


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> 


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> 




o 




o 


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73 


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t3 


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a 


a 








c 


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03 


a 


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rt 


c6 


cS 


rt 








Ui 










(/] 






V 


w 






Jw 




^ 


11 


V 



62 



N, C. CORPOKATIOX ( OMMISSTON. 



IT) m yO 



a t/i 

^« 
2 ^ 

< ^ 

U o 



^ v£) \0 »0 



OOOOOO O^C^O^O^O 



LO U-) O LO O LO 



lo m lo lo >o vo 



UO O lO O LO o 



ro ■* LO 'O 



O ^ " 



2; tn 

OS 2 






lO lO O lO o 



LO LO O 



CO f'J ro ro 



lO LO LO O 



;^ 



vovovovo t^r^t^r^ 



7) lO >-D CO 



00 OS O 



lo LO lO LO r^ 00 00 



O M ^ 



LO vO 00 On lO LO so 



PO ro ro ro ro ro to 



coiOiOvO OnO O '-• i-i 



LO lO so so >£> VO VO 



o\ o ►-■ 



t/.\o r^ 00 o\ o 



00 On On O 



lO r^ On I- fO 



lOuoLoiOLOiovo r^ONO •-^ 



r^oo ono w ioioioioio"~so 



lO t^ 00 On O 



iriioiouoi/"jioso r^ONO 



to LO LO 



M ro ■* UO VO 



Tj- lO t^ 



!~0 -«a- LO VC 



LO vo 00 ON O 



ro <0 to rO CO 



SO 00 ON O 



lO " -' 



ID LO so 



-c 


u 


(LI 


a; 


u 


V 


w 


11 


c 


s 


(U 


(U 


s 


c 


a; 


<ij 


a; 


(U 


!» 


a 


p> 








> 


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3 


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o 


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o 


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O 


o 


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o 


o 


Tl 


^3 


TJ 


T! 


T) 


-o 


-o 


•w 


T( 


-d 


'O 


TJ 


TJ 


-o 


T? 


'd 


T) 


-o 


T) 


C 




c 


c 


R 


c 


c 


s 


c 


c 


c 


n 


o 


s 


fl 


a 


a 


n 


a 


« 


cS 


CB 


CC 


CS 


ca 


rt 


rt 


CO 


ca 


rt 




cfl 


ca 


ca 


ca 


ca 


ca 


C8 




tn 


tn 








(/J 








w 


tfi 


(fl 


C/3 




(/5 








(l> 










0.1 


















V 




OJ 


<u 


D 








































a 


g 


g 


a 


a 


a 


g 


a 


c 


g 


a 


a 


a 


a 


a 


a 


a 


g 


a 




















o 


LO 


sS 




o 




o 




a 







































RELATION OF RAILROAD COMPANIES TO TARIFFS. 



63 



< 5ti 









o 

DC -"^ 



o J 

o 

9 CO 






00 >$ 



^ M 
f^ fe 



sawQOd 
ooi aad 



. P 
pj p 

rt 8 









]2 lo vo 



r-1 H r^ 



J*- mD CO O — tN rOTj-iot^ON-' 

■^ ►-11-|M1-II-CI-IWI-(P1 

_2i^v\o r^oooo a\0 o w cs tri 

O W „ M l-C hH 

o „„„„„„„ 

ff- VO ^x, O - M rOTj-LOr^ON" 

1^00 o ts -^lor^oo Os(N uor-^ 



LOr^OO O '-' r'JVO On 



e a a s s a 



lO I- « 



a a 



■3 a a a 



a a a 



< 


(D 


Q. 


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<r 








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> 


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c 
a; 






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QC 


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m 


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64 



N. C. CORPORATION COMMISSION. 



QC 


OJ 


LU 


■'^ 


1— 


Jj 


(f) 


Ph 


UJ 


m 


^ 


Oh 


T 


CO 


H- 


r, 


tc 


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o 


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Q 


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< 


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< 

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13 


Ij 


o 


o 


r^ 


QC 


< 




O 





0) 




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i» 








s 




0) 




o 




H<N 


02 


CO 


I? 


^ 


o 










45 


4ri 



.1: 5t! 



LO ID LO lO 



a o 

Ph h 



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o cn 

2 Q 
z 

w o 










8 






















Qa5 


(X, 














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lO 


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ro 


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s 


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ro 
ro 


so 
ro 


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O 


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o 


O 


T) 


T! 


-c 


T) 


TJ 


T5 


TJ 


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-a 


•V 


T3 





a 


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(U 


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4; 


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aaaaaaaaas 



RELATION OF RAILROAD COMPANIES TO TARIFFS. 



65 



^ 


^ 


m 


^H 


1 


CC 


Oj 


^ 


w 


1 


<r*7 


H 


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M 


w 


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rf 




rf) 


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M 



aupuadanx 
s;xjids 



0- !^ ! 



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J P 

CJ o 









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8 8 


o 1 8 8 
1 ^ "^ 


^ 


8 8 



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^ 


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VO 


oo 


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id 


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ro 












u 







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o 
oc 

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oc 



Cotton 
in 


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00 


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M 


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rt l- 3 














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66 



N. C. CORPOEATIOxN COMMISSION. 





a; 




^ 


< 


5ti 


I 


S 


cc 


-tj 


=3 


1 


o 


03 




O 




(X) 




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w 








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Pm 





A 






cc 






OP 

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s 


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> 




5 


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H 


UJ 


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IT. 





Ph 





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y 


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Ph H 






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lO 



K ELATION OF RAILROAD COMPANIES TO TARIFFS. 



67 



NORFOLK AND SOUTHERN RAILROAD. 

Passenger — Commissioners' Standard Tariff. 
Freight — Tariff as follows : 



Class. 



1 Over 5 

j 5 miles ; miles 



and 
under. 



First Class per 

Second Class 

Third Class 

Fourth Class 

Fifth Class 

Sixth Class 

Class A 

Class B 



lbs— Jo. 20 



and 
under 

15 



.do_ 
.do_ 
,do- 
_do. 
_do- 
_do- 
. do- 



Class C do 

Class D do 

Class E do 

Class F perbarrel— 

Cla.ss H per loo lbs__ 

Class K do 



• 15 

• 13 

. 12 

.10 
.08 
.08 

.oS 

.08 

.06 
.08 

. 10 

.07 

• 05 



15 

miles 

and 

under 

20, 



miles 

and 

under 

30. 



So. 25 
.20 

• 15 

• 13 
. 12 
. 10 
.10 i 
. 10 I 
.10 j 
.08 { 
.■o| 
.15 

.08 
.07 



$0. 



30 
25 
,20 
18 
16 
13 
■13 
.13 
.13 
,09 

.13 
. 17 
.09 
.07 



$0, 



30 
miles 

and 
under 

50. 



$0.35 
■ 30 
25 
22 
18 
15 
15 
15 
15 
II 
15 
20 
II 
08 



50 

miles 

and 

under 

70. 



70 
miles 

and 
under 

80 



$0.38 \ 

33 

28 

24 i 

I 

20 j 

16 I 

16 I 
16 I 
16 
12 j 
■ 6 

22 
12 

09 I 



fo. 40 
•35 
•30 
•25 
.21 

• 17 

• 17 
•17 

• '7 

• 13 
.17 
•25 
.13 
. 10 



80 

miles 

and 

under 

90. 



So. 50 
.40 

• 35 
.30 
•25 
.20 
.20 
.20 
.20 
•15 
. 20 
•25 

• 15 



TARIFF CALDWELL AND NORTHERN RAILROAD COMPANY. 





Amount. 


Lenoir to Caldwell Mills 


PASSENGER TARIFF. 




So. 05 
. 10 


r<enoir to Martin's 


L,enoir to Olivet 


.20 


Lenoir to Coffey's 


• 25 
.30 

6.00 

5.00 

10 


Lenoir to Collettsville 


Lumber— Collettsville to Lenoir. 
Olivet to Lenoir 


FREIGHT RATES. 


per car- 
do 


Other freights 




•nf»r inrt 1h>t! 







68 



N. C. CORPORATION COMxMISSION. 



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RELATION OF RAILROAD COMPANIES TO TARIFFS. 



69 



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RELATION OF RAILROAD COMPANIES TO TARIFFS. 



71 





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72 



N. C. CORPORATION COMMISSION. 



SUFFOLK AND CAROLINA RAILWAY. 

Passenger— Special tariff on file. 
Freight— Tariff as follows : 



Ten miles and under \ $0.16 

Twenty miles and over ten 

Thirty miles and over twenty 







PER 100 


POUNDS 


• 






3 


4 


5 


6 


$0.16 


$O.T4 


$0.12 


fo.io 


$0.08 


$0.06 


.20 


.18 


.14 


. II 


.09! 


.07 


..4 


.20 


.16 


. 12 


.10 


.08 



WARRENTON RAILROAD. 



Passenger, 
Freight, 



Special. 



WILMINGTON SEACOAST RAILROAD. 

Passenger, j. s^e^ial 
Freight, \ ^peciai. 

Clams — 6 cents per 100 pounds (loaded by carriers). 

5)4 cents per 100 pounds (loaded by shippers), 
Carriers' option as to loading. 



Tariff, ClassificatioQ and R^ate Tables for Southern 
Express Connpany. 



Local F^atcs — Mileage Scale. 



Over Miles. 



1 
25 
70 
149 

159 
170 
190 
209 

238 
266 
285 
333 , 
380 
427 I 



And Not Over 
Miles. 



25 

70 
149 
159 
170 
190 
209 
.238 
266 
285 
333 
380 
427 



EXPRESS RATES PER 100 POUNDS. 



Merchandise. 



$0.30 

•50 

• 75 

.80 

.90 

1. 00 

1. 10 

1.25 

1.40 

1-50 

1-75 

2.00 

2.25 

2.50 



Class B. 


Class C 


Class D. 


I0.30 


I0.30 


$0.30 


•45 


•45 


.40 


• 65 


.60 


.50 


• 75 


.70 


.60 


• 75 


.70 


.60 


.80 


• 75 


.60 


1. 00 


.90 


.70 


1. 00 


.90 


.70 


^•25 


I-15 


.90 


1.25 


r. 15 


.90 


1^50 


1.25 


I. GO 


1.50 


1.25 


I. 15 


i^75 


1.50 


1.25 


2.00 


1.75 


1.40 



Packages not exceeding 5 pounds in weight, or $5 in value, between any two 
points in North Carolina on above-named system of railroads will be carried for 25 
cents. 



EXPRESS JOINT TARIFF. 

On all shipments originating and terminating in this State which shall pass 
over the whole or portions of two or more roads not under the same control, the 
maximum rates charged shall not be greater than the sum of the local rates on 
such freights, less ten (10) per cent for the distance hauled over each road. 



74 



xN. C. CORP )ll.VT[OX COMMESSLON", 



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RELATION OF RAILROAD COMPANIES TO TARIFFS. 



75 



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76 



N. C. rOKPOKATIOX COMMISSION. 



EXPRESS CLASSIFICATION. 



SECTION " A."— fldvertisiog Matter, consisting of Printed, Engraved or Photographed Adver- 
tisements, on paper or cardboard (not under glass), and Almanacs, Signs and Cards, without glass, 
in frames or racks, may be charged for at the merchandise rate per loo pounds for actual weight. 

* SECTION "B." — The following matter may be charged for at the merchandise rate per loo 
pounds for actual weight, charges to be prepaid or guaranteed : 

Auxiliary Newspapers, Patent Insides and other appliances used in place thereot, including 
reading-matter plates, minimum 25 cents. 

Packages of Clothing .shipped to or by laundries, minimum 30 cents. 

Catalogues and Prices Current, with prices extended, to and from dealers and their traveling 
salesmen, value limited to $io, minimum 30 cents. 



tSECTION 



-F^ates on Printed Matter aQd Seeds and Bulbs, prepaid, for Manu- 
facturers, Publishers ar)d Dealers. 



The following articles may be carried at 10 cents fir each i}^ pounds or less, and for single pack 
ages exceeding i^ pounds one cent for each additional two ounces or fraction thereof, unless the 
graduated rate is less. If the through rate exceeds $8.50 per 100 pounds, no package weighing over 
four pounds, except single books, will be carried at these rates : 



Almanacs. 

Blanks, printed (bound or in 
sheets). 

Blotters and Blotting Pads. 

Books, printed (bound or un- 
bound). 

Bulbs*. 

Calendars. 

Cards, printed. 

Catalogues. 

Circulars. 

Chromos. 

Chromo-L,ithographs. 

Cuttings. 



Engravings. 

Envelopes (address printed). 

Handbills 

Heliotype Work. 

Insurance Policies (blank) 

Labels. 

Lithograph Views of Cities (mount- 
ed on cloth, vi^ith rollers) 

Lithographs. 

Magazines 

Maps 

Pamphlets 

Paper for cash Registers (printed 
on rolls or sheets). 



Periodicals. 

Photographs (not framed). 

Plants. 

Posters. 

Prospectuses. 

Proof sheets. 

Publications 

Roots. 

Scions. 

Seeds, f 

Sheet Music. 

Show Cards (unmounted). 

Stereoscopic Views. 



Any of the above-mentioned articles which represent advertising may be taken under Section A 
when it gives a lower rate. 

The following-named articles are not included, and, whether enclosed with the above-named 
matter, or separately, will subject the shipment to merchandise tariff: Blank-books, Blank Cards, 
Cardboards, Blank Envelopes, Flexible or Paper Patterns, Letter Paper, Ornamental Paper, and 
Samples of Merchandise, including grain, cloth, medicine and sample cards. 

Printed matter rates apply solely to articles enumerated, and only when shipped by manufac- 
turers, publishers or dealers. The value of each package must be limited to ten dollars, be prepaid, 
and have the nature of the contents written, stamped or printed thereon, and be so packed that the 
description may be readily verified by examination 

I SECTION " E."— Packages of Merchandise (not including jewelry), Grocers' Samples, and 
Electrotype and Stereotype Plates for advertising cuts, value not exceeding ten dollars, may be for- 
warded at a rate of 1 cent per ounce ; no charges less than 15 cents per package, charges prepaid. 



* When graduated or other rates quoted are less than these, they should be applied. When ship- 
ments are ordered returned, these rates apply. 

t Packages of Bulbs or Seeds exceeding 40 ounces in weight, 4 cents per package less than rate of 
3^ cent per ounce, unless regular graduate is less. 

X When graduated or other rates quoted are less than th^se, they should be applied. When ship- 
ments are ordered returned, these rates apply. 



RELATION OF RAILROAD COMPANIES TO TARIFFS. 



77 



EXCEPTION SHEET. 



AGRIiULTURAL IMPLEMENTS. 

Classification Card quotes two classes of Agriculti^ra! Implements Bulky implements will be 
subject to double merchandise rates. Others will be charged merchandise rates. 



The following: are bulky : 

Cleaners, Cotton seed. 

Cradles, Grain, set up. 

Cultivators, set up 

Cutters, Ensilage, Straw and Hay, set up. 

Distributors, Guano, set up. 

Drills, Grain, set up. 

Dusters, Bran, set up. 

Evaparators, Fruit. 

Evaporators, Sugar. 

Fans, Wheat. 

Horsepowers, Railroad or Endless Chain 

Hullers, Cotton-seed and Clover. 

Incubators, K. D., packed. 

Manure Spreaders, set up. 

Such of these articles as can be carried by Express will be taken at double merchandise rates. 
Others will be carried at merchandise rates 



Mills, Fan. 

Mills, Sugar, with trains. 

Mowing and Reaping Machines, Binders and 
Harvesters, whether combined or separate, 
set up. 

Planters, Corn and Cotton, set up. 

Plows, Gang and Sulky. 

Presses, Hay and Cotton, set up. 

Purifiers, Middlings. 

Rakes, Horse, set up. 

Wheelbarrows, Railroad, common carriers' con- 
venience. 

Wheelbarrows, Wood, set up. 



CLASSIFICATION OF PERISHABLES, ETC.. CARRIED AT LESS THAN 
MERCHANDISE RATES. 

For the purpose of promoting local traffic between points on the lines of this company, and 
developing the production of the commodities herein quoted at the same, Agents are authorized to 
use rates to be found by using the following scale : 

This .scale or these rates are not authorized to be used on any business transferred to other 
express companies, nor on any business received from them. 

Rates on this class of business to and from points reached by other express companies are known 
as " Through Rates,'' and will be furnished upon application to the General Auditor when necessary. 

Following classification is made: 

CLASS A.— To consist of merchandise. 
CLASS B.— To consist of the following: 



Asparagus, 
Dressed Poultry, 
Berries, 
Butter, 
Cherries, 



Celery, 
Coarse Furs, 
Eggs, 
Fish, 
Game, 



CLASS C— To consist of the following: 
Beans, Peaches, 

Green Hides, Peas, 

Ice cream, Plums, 



Honey (in the comb), 

Trees and Shrubs (for planting), 

Oysters (except in shell) 



Strained Honey, 
Turtles (in barrels), 
L,ettuce (gross weight). 



78 



N. C. CORPORATION COMMISSION, 



CLASS D.— To consist of the following: 



Ale, 

Apples, 

Bananas, 

Beer, 

Beets, 

Cheese, 

Crackers, 

Chestnuts, 

Cabbage, 

Carrots, 

Cocoanuts, 

Cider, 

Compressed Yeast, 



Cantaloupes (in crates or bar- 
rels). 
Cucumbers, 
Egg Plant, 
Grapes, 
Greens, 
Green Corn, 
I^emons, 

Mineral sind Spring Waters, 
Oranges, 
Oysters (in shell), 
Okra, 

Pineapples, 
Pomegranates, 



Potatoes, 

Pears, 

Parsnips, 

Pop, 

Radishes, 

Salt and Dry Fish, 

Sausage, 

Squashes (in crates). 

Sugar Cane, 

Soda Water, 

Tomatoes, 

Turnips. 



FRESM MEATS.— See Mileage Scale. 

The following Scale of Charges will apply as hereinbefore instructed: 



When the Rate on 
Merchandise is 



CHARGE AS FOLLOWS ON 
OTHER CLASSES: 



$0. 40- 





.60 




.75 




90 




00 




25 




50 




75 




.00 




• 25 


2 


50 


2 


75- 


3 


00. 



Class B. 


$0.40 


.45 


..50 


•65 


.75 


.80 


1. 00 


x-25 


1.50 


1.50 


1-75 


2.00 


2.00 


2.25 



Class C I Class D. 



When the Rate on 
Merchandise is 



CHARGE AS FOLLOWS ON 
OTHER CLASSES: 



$0.40 

•45 

•50 

.60 

.70 

• 75 

.90 

I- 15 

1.25 

1.25 

1.50 

1-75 

1^75 

2.00 



$0.40 

.40 

.40 

• 50 

.60 

.60 

.70 

.90 

1. 00 

1^15 

1.25 

1.40 

1.50 

1.75 



I $3-25- 
[ 3^50- 

3^ 75- 

i 

[ 4. 00. 

I 4.25- 

4^50- 

I 4^75- 

I 

I 5.oo_ 

i 5^25- 

I ■ 5-50- 

j 5^75- 

j 6. 00- 

6. 50- 



Class B. 


$2 


25 


2 


50 


2 


50 


2 


75 


3 


CO 


3 


00 


3 


00 


3 


25 


3 


25 


3.50 


3 


75 


4 


00 


4 


00 



Class C. Class D. 



0)2. 00 

I 
2.25 

2.25 I 

2.50 j 

2.75 

2-75 
2.75 I 

! 
3.00 i 

3.00 ; 
3-25 

3-50 ; 

3-75 i 
3-75 ' 



$1.75 
2.00 
2.00 
2.25 
2.50 
2.50 
2.50 
2-75 
2.75 
3.00 
3-25 
3-50 
3-50 



Fresh fish requiring ice for preservation in transit may be carried between all points at net 
weight, with 25 per cent added when ice is used 



RELATION OF KAILROAD COMPANIES TO TARIFFS. 



79 



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80 



N. C CO HPO RATION COMMISSION. 



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N. C. CORPORATION COMMISSION. 



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RELATION OP RAILROAD COMPANIES TO TARIFFS. 



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Express preight ClassificatioQ. 



RULES. 



1. Graduated Rates apply to matter weighing 
less than loo pounds when the rate is under $2.00 
(I) per 100 pounds and to matter weighing less 
than 50 pounds when the rate is J2.00 (I) or more 
per 100 pounds. Example: — Between points 
where the rate per 100 pounds is $1.75 (H) a box 
weighing 73 pounds must be charged for at the 
graduated rate under $1.75 (H), which makes the 
proper charge on "over 70 to 75 pounds " $1 50. 

Packages exceeding 7 pounds, carried by more 
than one company, graduate for each company 
unless otherwise instructed. 

2. When the rate between any two points is not 
given in the graduated rates, use the next higher 
rate for making price, but do not charge more 
than for 100 pounds at the actual rate. Exam- 
ple: — The correct charge for 75 pounds at 80 cents 
per 100 pounds would be 80 cents, and not $1 00 
according to the graduate on 75 pounds at $1 00. 
If the rate exceeds $20 00 (CC) per 100 pounds, 
charge pound rates, but never less than the $20.00 
(CC) graduated rate for same weight. 

3. When the rate per 100 pounds is $2 00 (I) or 
more, charge pound rates for 50 pound>< or over ; 
but the charge for less than 50 pounds in weight 
must not be greater than the charge tor 50 po'.mds 
If less than $2 C'O (I) per 100 pounds, charge grad 
uated rates. 

Two or more packages weighing each 20 pounds 
or over forwarded by one shipper at the same 
time to one consignee, may be charged for on the 
aggregate weight as above 

Packages weighing less than 20 pounds each, 
shipped as in the foregoing section, may be 
aggregated, provided they are estimated and 
charged for as weighing 20 pounds each Actual 
weight only must be entered on the way bill. 

If article.^ of different classes are aggregated, 
the charge must be made at the rate applying to 
the highest class. 

To properly carry out the above provisions in 
regard to aggregating the weights and charges 
on two or more packages sent b}' one shipper to 
one consignee, receiving clerks and wagon men 
are hereby in.structed that in all cases when two 
or more articles are shipped at the same time to 
one address, to mark distinctly on each and every 
article the number receipted for and the hour of 
the day, thus : 3 pkgs. 11 a m , 2 pkgs 4 p. m. 

All matter must be charged for at actual gross 
weight at the time of shipment, unless otherwise 
specially provided for. Estimated weights on 
shipments usually made with ice are only to be 
applied when ice is used. When no ice is used 
gross weight-, must be charged. 

4. Extra Rate Chargks — On matter subject 
to extra rate, as one and one half or double rate, 
find graduated rate according to tariff, and then 
add one half, or double it, as required. Exam- 
ple : — If a package weighs 25 pounds rated at 
double rate, and the rate to destination is $1.00 
(E) per 100 pounds, the charge for 20 to 25 pounds 
is 50 cents, double this— fi. 00— is the proper 
amount. 

5. Valuation Charges —When the value of 
any merchandise shipiient (C. O. D. or other- 
wise) exceeds $50.00, the following additional 
charge must be made on value : (Charge for value 
whether insured or not.) 



I When merchandise rate is $1.00 or less per 109 
pounds, 5 cents for each $100 value or fraction 
I thereof. 

When merchandise rate exceeds |i.oo and not 
■ more than I3 00 per 100 pounds, 10 cents for each 
{ $100 value or fraction thereof 

. When merchandise rate exceeds $3 00 and not 
! more than $8 00 per 100 pounds, 15 cents for each 
I $100 value or fraction thereof. 

] When merchandise rate exceeds $8 00 per 100 
j pounds, 20 cents for each $100 value or fraction 
j thereof. 

I These rates must not be applied to shipments 
j of money or bonds, being intended to apply only 
i to packagesor shipments of merchandise, jewelry 
! and valuable papers 

The charges for valuation above given are to be 
made on the through rate, whether carried by 
one or more companies and in the latter case are 
to be divided between the companies carrying on 
the same basis as said companies divide the 
transportation charges, except as noted below 

7. C. O. D. Matter.— The letters "C. O. ©." 
and amount to be collected must be plainly 
marked upon each article with which a bill is 
sent to be collected on delivery, and a similar en- 
try made upon the way bill. If shipper requires 
collection of charges for return of money, the C 
O D. envelope and package must be plainly 
marked "C O D $ ... and return charges " and 
so w^y billed 

Allow examination of C. O. D. matter only upon 
written authority of shipper, endorsed by agent 
at shipping point. When such authority is en- 
dorsed on the transfer envelope, it shall also be 
accepted. Such endorsement not to be made 
until shippers sign an agreement releasing the 
company from all loss incident to such examina 
tion. 

All orders to deliver C. O. D goods without col- 
lecting C O. D. must have the approval of the 
agent of the company at the shipping point. 

When C. O. L). matter is, by order of shipper, 
through the agent at point of shipment, delivered 
without co'lpcting. return the C. O D. bill and 
envelope waybill free. 

If C. O D nir^tter is refused, or can not be de- 
livered, theshipper must be immediately notified, 
and if not di-posed of within thirty days after 
such notice, it may be returned subject to charges 
both ways 

C O. D matter and paid O O. D.'s returned 
to shipper, must take same route and pass through 
the hands of same company or companies as 
when originally forwarded 

C O D's and CoLt.KCTioNS Between THE Uni- 
ted States and Other Countries — Shippers 
desiring currency or coin different from that cur- 
rent where collection is to be made, must wiite 
their instructions plainly on the COD. bill or 
collection. 

8. Give a receipt of the prescribed form for all 
matter received, without regard to the distance 
to be carried Always ask shippers to declare the 
value, and when given insert it in the receipt, 
mark it on the package and enter amount on the 
way-bill. If shippers refuse to state value, write 
or stamp on the receipt "Value asked and not 



86 



N. C. CORPORATION COMMISSION. 



given." When received at owner's risk, write or 
stamp on face of receipt " At owner's risk." 

Receive stove and other fragile castings, fire- 
brick and emery wheels at owner's risk only. 

9. Require prepajiment or guarantee of charges 
for, and so way-bill, old valises, hand bags, bun- 
dles of blankets, seeds, cuttings, shrubbery, 
plants, samples, medicines, and for all matter 
evidently not worth charges 

When matter is waj' billed or transferred guar- 
anteed, the guarantee covers the charges of all 
companies carrying to originnl point of desti- 
nation, and is limited to 60 days. Therefore, 
agents receiving matter way billed 'Guaranteed" 



must report to billing office within 60 days ot 
date of way-bill any failure to collect charges on 
same. 

10. Gunpowder, dynamite, kerosene, benzine, 
naphtha, gasoline, matches and all other explo- 
sive or dangerous inflammable oils, acids or ma- 
terials must not be received for transportation. 

Men, women or children must not be received 
for transportation 

II Fancy poultry, pet stock or dogs that have 
paid double merchandise rates to fairs and exhi- 
bitions, may be returned free if accompanied by 
a certificate from the secretary that they are be 
ing returned to the original owner. 



CLASSIFICATION. 

Explanations: — Special rules under each heading apply to all articles enumerated thereunder 
Mdse stands for Single Merchandise Rate; ^ Mdse for One-half Merchandise Rate; iy<2^Mdse. for 
One and One half Merchandise Rate; D. Mdse. for Double Merchandise Rate; j t Mdse for Three 
Times Merchandise Rate, etc. ; Special for Special Rates or Scales of Special Kates. In the absence of 
Special Rates on Special Rate matter use Single Merchandise Rates ; O. R. for Owner's Risk ; O. R. B. 
for Owner's Risk of Breakage ; K. D. for Knocked Down ; Minimum for Minimum charge on a single 
shipment — i. ^., no .single charge less than the one specified. 

All articles not enumerated below, or not analogous to those enumerated, are to be charged for at 
Merchandise Rates 



Acids, dangerous, refuse, see Rule 10. 

Advertising Matter, see Section A 

Agricultural Implements, bulky D. Mdse. 

Plows, ordinary stirring and break- 
ing Mdse. 

Ale, see Scale of Rates 

Animals, see Section A and Section D. 

Animals. Receive them only at O R 1 
of injury, death or escape, taking a 
release as provided for Live Stock 
Feed and utensils must be provided 
by shippers. They must be boxed 
or caged Enter the number of ani 
mals in each box or cage on way- 
bill. Charges must be prepaid or j 
guaranteed. See Rule 11 i 

Alligators, live 1- D. Mdse. 

Cats 

Deer 

Dogs, in boxes at actual weight, or 
securely chained, at 100 lbs each-_ 

Ferrets 

Guinea Pigs 

Opossums 

Pet Animals 

Rabbits J 

Antlers D. Mdse. 



Beef Fat, see General Specials. 

Beer, see Scale of Rates. 

Beer Tonic, see Scale of Rates 

Bees, in stands. O R ij^ Mdse. 

Benzine, refuse, see Rule 10. 

Bicycles—Ordinary, see Vehicles. 

Bicycles — Railroad, taken apart, see 
Vehicles. 

Bicycles — Safety, K D and crated, see 
Vehicles 

Bicycle Wheels, see Vehicles. 

Birds — Live Receive them only at O 
R. of injury, death or escape, taking 
a release as provided for Live Stock 
Feed and utensils must be provided 
by shippers Charges must be pre- 
paid or guaranteed. Knter the num- 
Ijer in each crate on the way bill D. Mdse. 

Blanks, printed, bound or in sheets, see 
Section D. 

Blotters and Blotting Pads, see Section 
D. 

Boats must be receipted for at owner's 
risk, with the understanding that if 



RATE 

they cannot be loaded in cars they 
are to be placed on deck. When they 
exceed 38 feet in length they must be 
accepted only by special agreement, 
and when destined to offices of other 
companies must not be accepted 
without their permission. 

Metallic Folding Boats, securely packed D Mdse. 

Row Boats and Canoes, including pad- 
dles and equipment, minimum $2 oo_ 4 t Mdse. 

Shells and all Racing Crafts, including 
Outriggers, minimum $4.00 8 t Mdse. 

Boats (except metallic folding boats), 
when securely and completely boxed, 
so that freight of all descriptions and 
weight can be loaded on top 3 t Mdse. 

Books, printed, bound or unbound, see 
Section D. 

Book Cases, same as Furniture. 

Bread, pound rates, minimum 25 cts-- Mdse. 

Buggies, see Vehicles 

Bulbs, see Section D 

Burial Ca.ses Mdse. 

Burros, see Live Stock. 

Butter, see General Specials. 



Calendars, see Section D 

Calves, see Live Stock 

Calves, dressed, see General Specials. 

Camera.s — Photograph, securely boxed Mdse, 

Cameras— Photograph, in light carry- 
ing cases D. Mdse. 

Canoes, see Boats 

Cards, printed, see Section D. 

Carriages, see Vehicles 

Castings, Fragile, receive only at O R. 
B , see Rule 8 

Catalogues, see Section D 

Catalogues and prices current with 
prices extended to or from dealers 
and their traveling salesmen. Value 
limited to $10 00, see Section B. 

Cats, see Animals 

Celery, see General Specials. 

Chairs, see Furniture. 

Cheese, 

Chestnuts, 



see General Specials. 



Children, refuse See Rule 10. 
Chromos. see Pictures, also Section D. 
Chrorao, Lithographs, see Section D 
Chronometers, see Instruments 



EXPRESS FREIGHT CLASSIFICATION. 



87 



Cider, see Scale of Rates 

Cigar Boxes, empty 

Circulars, see Section B. 

Clams, in shells, see General Specials 

Clothing, packages of, to or Irom Laun- 
dries, see Section B 

Colts, see Live Stock 

Corn, cooked, sample cans of, see Sec- 
tion B. 

Corpses, double the lowest first-class 
passenger tare, but never less than 
I5 GO for any distance, except that 
those of children under 12 years of 
age may be carried at single adult 
passenger fare, but never less than 
J2.50. When carried by two or more 
companies, the charges shall be pro- 
rated on the basis of the local mer 
chandise rates", provided that the 
charge for each company shall not be 
less than $3.00 tor an adult, or $2.00 
for a child under 12 years. Charges 
must be prepaid or guaranteed Corp- 
ses must be placed in such coffins or 
cases as will prevent the escape of 
offensive odors A certificate of phy- 
sician or health officer stating cause 
of death and that it was not from in- 
fectious or contagious disease, must 
be attached to the way bill and dupli- 
cate pasted on top of case. 

Cows, see Live Stock 

Crabs, see General Specials 

Crabs, deviled or cooked 

Crayon Portraits, see Pictures. 

Cuttings, see Section D 

D 

Deer, see Animals. 

Desks — School see Furniture. 

Desks — Office, same as Furniture. 

Dogs, see Animals 

Doll Carriages and Doll Chairs, of small 

value 

Dressed Poultry, see General Specials. 

Dress Forms D. 

Dynamite, refuse, see Rule 10. 

E 

Eggs, see General Specials. 

Emery Wheels, see Rule 8 

Empties, O. R , returned by the com- 
pany that carried them when full. 
Unless otherwise provided for, they 
must be called for and delivered by 
owners, and charges must be pre- 
paid Empties not enumerated are 
to be charged for in accordance 
with size and weight of analogous 
empties When carried by two or 
more companies between common 
points, charges to be divided equal- 
ly, delivering company to have the 
odd cent Empties that have not 
been shipped full by express, charge 
merchandise rates 

Bags and Sacks, for news companies 

Beer Empties 

Berry-Stands or Crates loc. 

Bread Baskets or Boxes 5c. 

Butter Tubs (and all butter empties 
except refrigerators) 5c. 

Butter Refrigerators 15c. 

Cans, in boxes or kegs, and oil cans 
in jackets loc. 

Cans, for Alcohol, Fish, Oils and 
Varnishes. They may deliver to 
regular patrons 15c. 

Clothing Baskets for clothing houses 
and merchant tailors 25c. 



RATE^ 

Mdse. 



Mdse. 



Mdse. 
Mdse. 



Mdse. 



Free 
Free. 

Each. 

Each 

Each. 
Each. 

Each. 



Each. 
Each. 



RATE. 

Coops IOC Each. 

Crates and Kennels, pet animal or 
dog, minimum 50 cents Y^ Mdse. 

Demijohns, in boxes or kegs loc. Each. 

Egg Cases,- 5c. Each. 

Fruit Empties loc Each, 

Gas Cylinders, nnninium 15 cents„_ 3^ Mdse. 

Homing Pigeon Baskets, minimum 
50 cents each for each company car 
rying Mdse. 

Ice Cream Freezers, minimum i5C__ 3^ Mdse. 

Jars 5c. Each. 

Jugs, in boxes or kegs loc Each. 

Kumys*^ Boxes 25c. F;ach, 

Liquor Kt-gs loc Each. 

Meat Boxes may be returned, subject 
to charges on delivery, by agree- 
ment with owners 25c. Each. 

Milk Cans Free. 

Mineral Water Cases P'ree 

Oyster Empties Free. 

Oyster Emp'ies, new, sent to be filled 
and returned by express — Tubs or 

Pails 5c Each. 

Other New Oyster PZmpties 10c. Each 

Pony Refrigerators, for fruit 25c Each. 

Soda Fountains, minimum 15c 3^ Mdse. 

Soda Water Cases Free. 

Engravings, see Pictures, also Sec D. 
Envelopes, address printed, see Sec. D. 
Explosives, refuse. 

F 

Feathers, closely compre.ssed and baled Mdse 
Feathers, not closely compressed and 

baled D. Mdse. 

Ferrets, see Animals. 
Firearms, O. R 
Guns or Rifles, trussed or boxed, or 
taken apart and packed in sole 

leather or canvas cases Mdse. 

When not so packed 3 t Mdse. 

Pistols or Revolvers, securely packed Mdse 

Fire Brick, see Rule 8 Mdse. 

Fish — Fre-sh, smoked or dried, see Gen 

eral Specials 
Fish— Live. When carried by more 
than one company, rates on "Pack- 
ages each 7 lbs. or less " do not ap 

ply Mdse. 

Fruit, see General Specials 
Furniture, ORB. 

Boxed or crated Mdse. 

Not boxed or crated D. Mdse. 

Burlapped. except chairs, from man 

ufacturers only Mdse. 

Chairs, boxed or crated Mdse. 

Chairs, not boxed or crated and not 

otherwise specified D Mdse. 

Chairs, Barber, burlapped, boxed or 

crated Mdse. 

Chairs, Dentists', boxed or crated, 

not exceeding $75 in value *Mdse. 

Chairs, Dentists', boxed or crated, 

exceeding $75 in value D. Mdse. 

Chairs, Iron Frame or Folding Opera Mdse. 

Letter File Cases, boxed or crated Mdse. 

Piano Stools, boxed or crated Mdse. 

Piano Stools, not boxed or crated D. Mdse. 

School Desks Mdse, 

Furs — Coarse, including undressed 

skins, see General Specials. 
Furs — Dressed Mdse. 

G 

Game, see General Specials. 
Gasoline, refuse, see Rule 10. 



88 



N. C. CORPORATION COMMISSION. 



General Specials, at pound rates and] 
unless otherwise provided for. at 
gross weight; no charge less than | 
35 cents, unless gradnatf* uii<i, r j 
General Special, or Merchantlise i 
rate is less. Two or more pack- 
ages from the same shipper at the 
same time to the same consignee 
may be aggregated and charged ' 
for as one Prepayment of charges 
will be required on all shipments 
from or to parties found guilty of 
understatniii the contents or net 
weight of packages carried at es- 
timated weights 

Beef Fat 

*Butter 

Calves dressed 

Celery 

Cheese 

Chestnuts 

Clams, in shells 

Crabs, live 

Crab Meat, raw (notinc tiding dev- 
iled or cooked crabs) 

Eggs 

*Fish, fresh, sruoked or dried 

Fruit 

Furs, coarse including undressed 

skins of any kind 

*Game, between December i and 
March 31, no allowance for ice 
will be made 

Hides, green 

L,ard 

*IvObsters }■ Special. 

*Meat, fresh or cured 

Oleo Butter 

Oleo Oil 

Oysters in bulk, 10 lbs , per gallon, 
except when sold by count, 100 
counts shall be estimated at 6 lbs., 
and 100 culls at 4 lbs 

Oysters, in shell 

Oysters, canned 

*Poultry, dressed, between Decem- 
ber 1st and March 31st no allow- 
ance for ice will be made 

Rabbits, dead 

*Sausage, fresh or cured 

fShrubs, for setting, when boxed or 
baled and strawed; prepaid or 
guaranteed 

Skins, undressed 

Terrapin 

fTrees for setting, when boxed or 
baled and strawed ; prepaid or 

guaranteed 

Turtles live 

Vegetables 

*When ice is used for preservation, 
add 25 per cent to net weight, un- 
less actual gross weight is less at 

time of shipment 

tShrubs and Trees for .'netting, when 
boxed, or baled and strawed, pre- 
paid or guaranteed, between 
points where no General Special 
is in force, may be taken at 20 per 
cent less than merchandise rates, 
at pound rates, minimum charge 
35 cents This applies only to 

points reached by rail J 

Ginger Ale, see Scale of Rates. 

Glass, must be boxed or crated, O . R. B. 

Ground D. Mdse. 

Mirrors D. Mdse. 

Stained D. Mdse. 

Showcases D. Mdse. 

Plate Mdse. 

Signs Mdse. 

Window Mdse. 



Goats, see Live Stock. 
Guinea Pigs, see Animals. 
Guns, see Firearms, 
Gunpowder refuse, see Rule 



Hand Bags— o'd, see Rule q. 
Hand Bills, see Section D 
Heliotype Work, see Section D. 
Hides— Green, see General Specials. 

Hobby Horses d. Mdse. 

Hogs, see L,ive Stock. 

Honey, O. R., refuse unless properly 

packed Mdse. 

Horses, see Live Stock. 



Inflammables, refuse, see Rule 10. 
Instruments, O R 

Musical Instruments, encased in 
wooden boxes in addition to their 
own cases Mdse. 

Musical Instruments, not so boxed, 
not otherwise specified 3 t Mdse. 

Pianos, boxed, minimum $5"oo for 
each company carrying Mdse. 

Pianos, not boxed, minimum $5.00 for 

each company carrying i^^ Mdse. 

Organs, boxed Mdse. 

Organs, not boxed, for music dealers. Mdse. 

Organs, not boxed, for other than 
music dealers i^^ Mdse. 

Surveyors' Instruments, except Tri- 
pods, must be refused unless boxed 

Surveyors Instruments, enclosed in 
single box or case 3 t Mdse. 

Surveyors' Instruments, strapped so 
that they can not move in their 
own box or case, and cevered with 
one or more additional boxes with 
proper packing between Mdse. 

Chronometers, must be refused un- 
less boxed 3 t Mdse. 

Thermometers, must be refused un- 
less boxed or securely packed. 

Value not exceeding I5.00 each Mdse. 

Value exceeding S5 00 each D. Mdse. 

Tripods Mdse. 

Insurance Policies, blank, see Sec. D. 

J 

Jewelry, sealed or unsealed, graduated 

rates Mdse ■ 

K 

Kerosene, refuse, see Rule 10. 
L 

Labels, see Section D. 

Lard, see General Specials. 

Laundries, packages of clothing, ship- 
ped to or by, see Section B. 

Letter File Cases, see Furniture. 

Lithographed Views of Cities, mounted 
on cloth, with rollers, see Sec R. 

Lithographic Stones, O. R., must be 

boxed or crated D. Mdse. 

Liquids, in glass, demijohns or earth- 
enware, O. R. Refuse when en- 
closed in paper or paper boxes or 
otherwise improperly packed Mdse. 

Lithographs, see Pictures, also Sec. D. 

Live Stock. Receive only at O. R. of 
death, injury or escape. Shippers 
must be required to sign a contract 
on the form furnished by the com- 
pany, releasing the express as well 
as all transportation companies, 
whose lines may be used, from any 
and all liability for loss or damage. 



EXPRESS FREIGHT CLASSIFICATION, 



89 



RATE. 
Feed and utensils must be provided 
by shippers. Charges must be pre- 
paid or guaranteed Horses must 
not be taken unless authorized by 
superintendents 

Burros, crated Mdse 

Burros, not crated, not exceeding 500 
pounds in weight and |ioo in value, 
minimum J5 for each company car- 
rying i>^ Mdse. 

Calves, crated Mdse. 

Colts, see Ponies 

Cows, not crated, estimate ."-ingle atii 
mal at 1,000 pounds D. Mdse. 

g-^^.;. crated .Mdse. 

Horses, estimate .single animal at 
1,000 pounds, minimum $25 for each 
company carrying in absence of an 
agreement to divide the through 
rale 3t Mdse. 

Horses, car-loads of ten horses, esti- 
mate at 10 000 pounds, and i.ooo 
pounds more for each additional 
horse , Mdse. 

Ponies or Colts, not exceeding 500 
pounds in weight and $100 in value, 
minimum $i0 for each company 
carrying in absence of an agree- 
ment to divide the through rate- 
When not crated i3^ Mdse. 

When crated Mdse. 

A Pony, Colt or Horse weighing over 
500 pounds, net. will be classihed 
same as a horse. 

Sheep, crated Mdse 

IvObsters, see General Specials. 

M 

Magazines, see Section D. 

Maps, .see Section D 

Marble and Slate, manufactured, must 

be boxed or crated, O. R Mdse. 

Matches, refuse, see Rule 10. 

Mattresses Mdse. 

Meat, sample cans of, from packing 

houses, see Section B 
Meat — Fresh or Cured, see General 

Specials 
Men, refuse, see Rule 10. 
Mineral Water. 
Mirrors, see Glass. 

N 

Naptha, refuse, see Rule 10 
Negatives, .--ee Photographic Dry Plates. 
Newspapers, charge according to local 

agreements. 
Newspapers, auxi'iary, see Section B. 

O 

Oars, crated . Mdse. 

Oars, not crated D. Mdse 

Olio on,'"' } see General Specials 
Oils, explosive or inflammable, refuse, 

see Rule 10 
Opera Chairs, see Furniture 
Opossums, see Animals. 
Organs, see Instruments. 
Oysters, see General Specials. 
Oyster Posters and Oyster Signs, not 

exceeding 20 pounds in weight, 
from oyster dealers Free. 

P 

Paintings, see Pictures. 

Pamphlets, see Section D 

Paper for Cash Registers, see Section D. 

Patent Insides, see Section D. 

1-7 



Peanut Roasters 

Periodicals, see Section D. 
Photographs, not framed, see Section D. 
Photographic Dry Plates and Nega- 
tives. O. R. B 

Pianos, see Instruments, 
Piano Stools, see Furniture. 
Pictures, O R.. must be securely crated 
or boxed, and marked " Pictures," 
"Oil Paintings,'' etc. Shippers 
must invariably declare value, and 
it must be entered on the receipt. 

Chromos 1 When the de- ] 

clared value ofl 
the shipment is f 
f5o 00 or less. J 



RATE. 
Mdse. 



Mdse. 



Crayon Portraits 

Engravings 

Lithographs 

Machi'e or Sten- 
cil Paintings-- 

Oil Paintings 

Pictures 

Water Colors 



When the de 1 
clared value of ! 
the shipment | 
exceeds ^50. 00. J 



Pigeons — Live, in coops for market or 
shooting tournaments O. R. of in- 
jury, death or escape 
Coops and contents must not weigh 
over ISO pounds 

Pigeon.';— Live, shipped by Homing 
Pigeon Clubs. O R. of injury, death 
or escape, in heavy fiat-topped bas- 
kets, with sufScient food and water 
for the trip 

Pistols, see Firearms. 

Plants — Live, boxed or crated, so that 
thev can be loaded with other 
freight without damage ; prepaid 
or guaranteed 

Plants, when not so boxed or crated; 
prepaid or guaranteed ^^ 

Plants, also see Section D 

Plows, see Agricultural Implements. 

Ponies, s-e Live Stock 

Pop, see Scale of Rates. 

Posters, see Section D. 

Poultry dressed, see General Specials. 

Poultry— Live. O. R. of injury, death or 
escape Food and utensils must be 
provided by shippers. Coops and 
contents must not weigh over 150 
pounds 
Poultry, for market 

. Poultry, other than for market; re- 
leased same as Live Stock ; charges 
must be prepaid or guaranteed ; en- 
ter the number of fowls in each 
coop on waj' bill. See Rule 11 

Prices Current, see Section B. 

Produce, see General Specials. 

Prospectuses, see Section D. 

Proof Sheets, see Section D. 

Publications, see Section D. 



Quail — Live, in coops for market or 
shooting tournaments, O, R. of 
death, injury or escape. Coops and 
contents must not weigh over 150 
pounds 



Rabbits— Dead, see General Specials. 
Rabbits— Live, see Animals 
Reading Matter Plates, see Section B. 
Revolvers, see Firearms. 
Rifles, see Firearms. 
Roots, see Section D. 



Sausage— Fresh or cured, see General 

Specials. 
School Desks, see Furniture. 
Scions, see Section D. 
Seeds, see Section D. 



Mdse. 



D. Mdse. 



Mdse. 



Mdse. 



Mdse. 
D. Mdse. 



Mdse, 



D. Mdse. 



Mdse. 



90 



N. C. CORPORATION COMMISSION. 



Sewing Machines, racked or boxed 

Sewing Machines, not racked or boxed, 
O. R 

Sheep, see Live Stock. 

Sheet Music, see Section D. 

Show Cards, unmounted, see Section D 

Show Cases, see Glass 

Shrubs, see General Specials. 

Signs, see Glass, also see Section A. 

Skins — Dressed 

Skins — Undressed, see General Spe- 
cials 

Slate, see Marble. 

Sleighs, see Vehicles 

Soap, samples of, given away for ad- 
sertising purposes, see Section B. 

Soda Founts, "charged" 

Soda Water, see Scale of Rates. 

Spring Water, see Sc^le of Rates. 

Statuary, O. R., must be boxed or 
crated 

Stereoscopic Views, see Section D. 

Sulkies, see Vehicles. 

Surveyors' Instruments, see Instru- 
ments. 



Terrapin — Live, see General Specials. 

Thermometers, see Instruments. 

Tricycles, see Vehicles. 

Tripods, see Instruments. 

Trees, see General Specials. 

Turtles— Live, see General Specials 

Typewriting Machines, securely boxed 

Typewriting Machines, when in their 
cases only, or not securely boxed, 
O. R — 



Valises, see Rule 9. 

Vegetables, see General Specials. 

Vehicles- 
Bicycles, ordinary 

Bicycles, railroad, taken apart.. 



Mdse. 



Mdse. 



D. Mdse. 



RATE. RATE. 

Mdse. j Bicycles, safety, K. U and boxed or 

crated Mdse. 

J^ Mdse. j Bicycle Wheels, same as the machine 
to which they belong, except that 
the small wheel of the " Ordinary" 
Bicycle may be taken at merchan- 
dise rate when boxed or crated. 

Buggies, K. D. and boxed or crated. 1]/^ Mdse. 

Buggies, not K. D. and boxed or 
crated 3 t Mdse. 

Children's Carriages D. Mdse. 

Carriages, K. D. and boxed or crated ly^ Mdse 

Carriages, not K. D. and boxed or 
crated 3 t Mdse. 

Carriage or Buggy Poles, with single- 
tree securely attached Mdse. 

Cutters, with Thills detached, boxed 

or crated 1% Mdse. 

Sleighs, K. D and tjoxed or crated 1^ Mdse. 

Slei^^hs, not K. D nor boxed or crated- 3 t Mdse. 
Sleighs, with Thills detached, boxed 

or crated lYz Mdse. 

Sulkies, K. D. and boxed or crated__ i3^ Mdse. 

Sulkies, not K. D. and boxed or crated 3 t Mdse 

Tricycles, K D. and boxed or crated. Mdse. 

Tricycles, not K D and boxed or 
crated D. Mdse. 

Velocipedes D. Mdse. 

Velocipedes — Children's Mdse 

w 

Watches, see Jewelry. 
Women, refuse, see Rule 10. 

Y 

Yeast, Compressed, pound rates, mini 
mum charge, 35 cents, unless grad 
uateisless. Cases containing 50 lbs. 
ofYeastmay beratedateibs. Pack- 
ages weighing 1% lbs. or less may Special, 
be taken over the lines of one com 
pany for 15 cents and y^ cent for 
each additional ounce, unless grad 
uate or pound rate minimum is less. 



Mdse 
D. Mdse 



D. Mdse 
Mdse, 



Assessment of F^ailroad Property 



The Wilmington and Weldon Railroad Company, the Southern Railway Com- 
pany, the Raleigh and Gaston Railroad Company, Raleigh and Augusta, Carolina 
Central, Seaboard and Roanoke, Roanoke and Tar River, Atlantic Coast Line of 
Virginia, Norfolk and Carolina Railroad, filed bills of complaint against the 
North Carolina Corporation Commission for the purpose of enjoining the enforce- 
ment and collection of taxes upon an alleged illegal increase in the valuations 
for assessment of their properties respectively, for the year 1899, aggregating 
about $10,000,000; the State, county, city and town taxes upon which will amount 
each year in the future to about $100,000. 

The bills in the cases of Wilmington and Weldon Railroad, Southern Railway, 
and Raleigh and Gaston, are as follows: 



IN THE CIRCUIT COURT OF THP: UNITED STATES.— 
EASTERN DISTRICT OF NORTH CAROLINA. — IN 
EQUITY. 

Original Bill, 
the wilmington and weldon railroad company. 

vs. 
THE NORTH CAROLINA CORPORATION COMMISSION, FRANKLIN McNEIL, 
CHAIRMAN, S. L. ROGERS AND E. C. BEDDINGFIELD, MEMBERS, AND 
HENRY C. BROV/N, CLERK, WILLIAM H. WORTH, TREASURER, AND 
HAL. W. AYBR, PUBLIC AUDITOR. 

To the Honorable the Judges of the Circuit Court of the United States for the 
Eastern District of North Carolina: 

The Wilmington and Weldon Railroad Company, a corporation created by and 
existing under the laws of the State of North Carolina, brings this its Bill of 
Complaint against the North Carolina Corporation Commission, and against 
Franklin McNeil, Chairman, S. L. Rogers and E. C. Beddingfield, constituting 
and composing the said North Carolina Corporation Commission, and Henry C. 
Brown, Clerk thereof, William H. Worth, Treasurer, and Hal. W. Ayer, Auditor 
of the State of North Carolina. 

And thereupon your orator complains and alleges: 

1. That your orator is a corporation duly created and existing under and by 
virtue of the laws of North Carolina, and that your orator is a citizen and resi- 
dent of the State of North Carolina and of the Eastern District thereof. 



92 N. C. CORPORATION COMMISSION. 

2. That the defendants Franklin McNeil, S. L. Rogers and E. C. Beddingfield 
constitute the North Carolina Corporation Commission, the said Franklin 
McNeil being Chairman thereof, and Henry C. Brown is Clerk thereof, and their 
office and official place of business is in the city of Raleigh, in the said State 
of North Carolina, and in the Eastern District thereof. That the defendants, 
Franklin McNeil, E. C. Beddingfield, H. C. Brown, W. H. Worth and Hal. W. 
Ayer, are citizens and residents of the said Eastern District of North Carolina 
and the defendant, S. L. Rogers, is a citizen and resident of the State of North 
Carolina. 

3. That on or about the 5th day of March, 1891, the General Assembly of the 
State of North Carolina passed an act entitled, "An Act to provide for the 
General Supervision of Railroads, Steamboat or Canal Companies, Express and 
Telegraph Companies doing business in the State of North Carolina," and being 
chapter 320 of the laws of North Carolina for the session of 1891. That there- 
after the said act was amended or supplemented by acts of said General Assem- 
bly of North Carolina, ratified on the following dates: April 1, 1891, February 9, 
1893, March 6, 1893, and February 14, 1893; to which said acts and amendments 
your orator begs leave to refer and by reference include herein with the same 
force and effect as though the same was here set forth at length. 

4. That the amount involved in this suit is over two thousand dollars, exclusive 
of interest and costs and this suit is one arising under the Constitution of the 
United States. 

5. That on the 6th day of March, 1899, the General Assembly of North Carolina 
professed to repeal the aforesaid Railroad Commission Act, being chapter 
320 of the Laws of 1891, and all acts amendatory thereof, and on the 8th day of 
March, 1899, in section 42 of the act to provide for the assessment of property 
and the collection of taxes, commonly called the "Machinery Act," provided 
as follows: "The Commissioners elected from time to time under the authority 
of an Act to provide for the General Supervision of Railroads, Steamboat or 
Canal Companies, Express and Telegraph Companies, doing business in the 
State of North Carolina, shall constitute a Board of Appraisers and assessors for 
railroad, telegraph and steamboat and canal companies," and in subsequent sec- 
tions of said act the method and details of said procedure are marked out with 
great particularity, reference being made always to the Commissioners above- 
mentioned. 

6. That on the 8th day of March, 1899, the said General Assembly passed an 
act entitled "An Act to raise Revenue," and by the 60th and 61st sections thereof 
it is provided: 

"Sec. 60. That for the purpose of raising revenue and equalizing tax- 
ation, the Railroad Comxmission or any body succeeding to their powers, 
are hereby required and directed, as soon as practicable, and in time for 
the levy of 1899 to revise the assessments for taxation of the entire 
railroad property of the State, and in doing so they should take into 
consideration the nature of the franchise and gross earnings and the 
net income of each road." 

"Sec. 61. That said assessors shall so increase the assessments, where 
such increase is justified, as will make each part and parcel of rail- 
road property bear its fair proportion of the burden of taxation." 



COMPLAINTS AND DECISIONS. ' 93 

Your orator calls attention to the various sections of said act to raise revenue, 
being- chapter 11 of the Laws of 1899, bearing upon the said Board of Railroad 
Commissioners as a Board of Assessment, and particularly to sections 37, 38, 39, 
40, 41, 42, 43, 44, 45, 46 and 47 of said act, and prays that the whole of said 
act may be taken as parts of this bill as if fully set out therein. 

7. Your orator submits to the Court whether the Board of Railroad Commis- 
sioners is not preserved as a Board of Assessors, with the power of review and 
equalization committed to the North Carolina Corporation Commission and 
whether the said Corporation Commission have any original powers as an 
assessirg board. 

8. That by article 5, section 3, of the Constitution of North Carolina, it is 
provided: "Laws shall be passed taxing by a uniform rule all moneys, credits, 
investments in bonds, stocks, joint stock companies or otherwise, and also all 
real and personal property according to its true value in money. The General 
Assembly may also tax trades, professions, franchises, and incomes, provided 
that no income shall be taxed v/hen the property from which the income is 
derived is taxed." And by article 7, section 9, of said Constitution it is also 
provided: "All taxes levied bj^ any county, city, town or township, shall be 
uniform and ad valorem upon all property in the same, except property 
exempted by this Constitution." 

9. That the defendants composing the North Carolina Corporation Commission 
have undertaken to assess originally the value of all railroad property in North 
Carolira, and have assessed the value of the property of your orator in said 
State as follows: 

Main line (161.40 miles) at $^5,000 per mile. 

Wilson and Fayetteville Branch (116.20 miles) at $25,000 per mile. 

Tarboro Branch (14.38 miles) at $20,000 per mile. 

Atlantic and Yadkin Railway Company (166.19 miles) at $8,250 per mile. 

Albemarle and Raleigh (53.33 miles) at $5,000 per mile. 

Scotland Neck Branch (85.82 miles) at $7,500 per mile. 

Washington Branch (25.39 miles) at $5,000 per mile. 

Wilmington, New Bern and Norfolk Branch (90.32 miles) at $5,000 per mile. 

This is the value of the right of way, roadbed and track. The other property 
of complainant, consisting of depots, section houses, water tanks, shops, lots, 
etc., and rolling stock and equipment is assessed in addition thereto. 

10. That all the property in the State, other than railroad property, with few 
exceptions, is assessed by local assessment boards in each township with a 
power of equalization and revision lodged in the Board of County Commissioners 
of the respective counties. And there has grown up before these local County 
Boards an almost immemorial and well recognized custom to assess for taxation 
all property, other than railroad property, and especially farming lands, at less 
than its actual value, and, as your orator is informed and believes, said value 
for taxes is fixed at from fifty to sixty per cent of its actual value. The said 
property is systematically and designedly assessed at such under values by said 
local and county boards and such method generally prevails throughout the 
State. 

11. That the property of your orator has been assessed by the defendants at 



94 • N. C. CORPORATION COMMISSION. 

its full value arxd as your orator is informed and believes, it was designedly so 
assessed by them, and the universal custom as to other property, taken in con- 
nection with defendants action as to the property of your orator, is a wrongful 
discrimination against it and deprives it of its property without due process of 
law and denies to it the equal protection of the laws, which is guaranteed to it 
by the Fourteenth Amendment to the Constitution of the United States, the 
protection of which it expressly claims. 

12. And your orator further alleges that the method of appraisement pre- 
scribed by law for the valuation of railroad property is different from that 
prescribed for the valuation of other property including other corporations. 
That while under the laws of this State, lands and improvements thereon are 
assessed for taxes every fourth year, the property of railroad companies, con- 
sisting largely of land and improvements thereon, is assessed for taxation 
annually, in this respect being treated as personal property, but that for the 
purposes of lien and collection of taxes the acts of the General Assembly treat 
the property of railroad corporations as real estate, and further by section 60, 
of the Revenue Law above quoted, it is provided that the assessors in valuing 
railroad property shall take into consideration the value of the franchise, the 
gross earnings and the net income of each road; while in the appraisement of 
the value of other corporations there is no direction to the appraisers to con- 
sider the franchises, gross earnings or income, nor is there any direction to the 
assessors in placing a valuation on the property of individuals to consider the 
earning capacity of the property. 

And your orator further alleges, on information and belief, that the difference 
in method was intended to cause railroad property to be assessed at its full 
value, when it was notorious that farming lands are habitually and intentionally 
assessed at from fifty to sixty per cent of their value, and so make such property 
bear more than its fair proportion of the burden of taxation, whether so intended 
or not, the honest application of the prescribed method by the defendants Frank- 
lin McNeil, S. L. Rogers and E. C. Beddingfield, constituting the Corporation 
Commission, does, in fact, result in taxing railroad property partially, unfairly 
and unjustly, in violation of article 5, section 3, of the Constitutipn of North 
Carolina and of the Fourteenth Amendment to the Constitution of the United 
States and to the great injury of your orator. 

13. That there has been a persistent and steady increase in the assessment 
of your orator's property at each annual assessment for the past several years, 
while the assessment of all other than railroad property has remained prac- 
tically the same. In 1898 your orator's property was assessed at $7,482,309, 
which your orator believed and still believes was too high when considered in 
connection with the valuation of other property in the State, and wrongfully 
discriminated against your orator, but it has no desire to embarrass the admin- 
istration of the State Government and is willing to pay into court for the 
use of the State and of each county, city and town, the amount of taxes assessed 
against it for the year 1898. 

14. That by section 45 of the said Machinery Act, chapter 15 of the Laws of 
1899, it is provided : "The said Commissioners shall first determine the value of 
each railroad, rolling stock and other property, ascertaining such value from 



COMPLAINTS AND DECISIONS. 95 

the earnings as compared with the operating expenses, and taking into con- 
sideration the value of the franchise as well as other conditions proper to be 
considered in arriving at the true value of the property, as in the case of 
private property, and the aggregate value thus determined shall be apportioned 
in the same proportion that the length of such road in each county bears to the 
entire length thereof; and the Commissioners shall certify to the Chairman 
of the County Commissioners and the Mayor of each city and incorporated town 
the amount apportioned to his county, city or town, and the Commissioners shall 
make and forward a like certificate, together with all the reports of the various 
railroad officers or copies thereof and other papers and evidence which formed 
the basis of the valuation, to the Auditor of the State. All taxes due the State 
from any railroad company, except the tax imposed for school purposes shall be 
paid by the treasurer of each company directly to the State Treasurer within 
thirty days after the first day of July of each year, and upon failure to pay the 
State Treasurer as aforesaid, he shall institute an action to enforce the same 
in the county of Wake or any county in which said railroad is located. The 
Board of County Commissioners of each county through which said railroad 
passes shall assess against the same only the tax imposed by the State for school 
purposes and those imposed for county purposes. 

15. That by virtue of said provision, the defendants unless restrained by this 
Honorable Court, will at once certify their valuations of the property of your 
orator to the Auditor of the State, and will also certify to the Chairman of the 
Board of County Commissioners of each county, and to the Mayor of each city 
or incorporate town through which the road of your orator runs, the propor- 
tionate part of the valuation of your orator's property assigned to them and 
your orator will then be expected and required to pay the taxes thereon within 
the time allowed by law. The road of your orator runs through at least twenty 
counties and fifty incorporated towns and cities and unless this action of said 
defendant's is restrained by the Court the plaintiff will be put to a multiplicity 
of actions and harrassing litigation. Moreover the taxes levied in each county, 
city and town v/ill be liens upon your orator's property as soon as listed and 
will cast a cloud upon the title thereto. 

16. Upon information and belief, your orator alleges that the valuation of 
railroad property in North Carolina is out of all proportion to the valuatioji of 
other property in the State. The valuation of the railroad property is now 
practically the same as the valuation of all the town lots in cities, towns and 
villages, to-wit: about $44,000,000. In 1898 all property in the State other than 
railroad property was assessed at about $229,000,000 while railroad property was 
then assessed at $33,000,000 and now at $44,000,000. The farming lands of the 
State, 28,000,000 acres, were, as it is informed and believes, assessed at $110,- 
000,000 with a yielding capacity of from $50,000,000 to $60,000,000. 

17. That the defendant W. H. Worth is the public Treasurer of the State 
of North Carolina, and the defendant Hal W. Ayer is the public Auditor thereof. 

Wherefore, your orator prays that the defendant, the North Carolina Corpora- 
tion Commission and Franklin McNeil, S. L. Rogers and E. C. Beddingfield, 
members thereof, and Henry C. Brown, Clerk of the same, and William H. 
Worth, Treasurer, and Hal. W. Ayer, Auditor, be made parties defendant to this 
bill, and that subpoena thereon may issue in due course, and that each of said 



96 N C. CORPORATION COMMISSION. 

defendants be required to answer this bill according to the usual practice of this 
Honorable Court, but without oath, an answer under oath being hereby expressly 
waived; that on the hearing the unjust discrimination against your orator be 
declared and restrained; that the said Corporation Commission be restrained 
and enjoined from valuing the property of your orator in excess of the valua- 
tion of 1898, that the said W. H. Worth, Treasurer, and Hal W. Ayer, Auditor, 
be enjoined and restrained from collecting taxes from your orator on the basis 
of the present assessment, and from taking any steps in the premises till the 
further order of the Court; that in the meantime the said Corporation Com- 
mission and Franklin McNeil, S. L. Rogers and B. C. Beddingfield, and H. C. 
Brown be enjoined and restrained from certifying the said assessment to the 
Auditor of the State and the Board of Commissioners of the several counties, and 
to the Mayor or other authorities of the several cities and towns through which 
orator's road runs, and from taking any further steps in the matter of said 
assessment or of the taxation of your orator's property until the further order 
of the Court; that the said Auditor and Treasurer oe enjoined and restrained 
from collecting any taxes on the basis of said assessment and from certifying 
the same to any Board of Commissioners, Mayor or any other officer of any 
county, city or town, and from instituting any suit or suits for the collection 
of any taxes or of any penalty or penalties on account of the non-payment of any 
taxes arising on account of said assessment till the rurther order of the Court, 
and for such other and further relief as may be just and the nature of the 
case demands and for costs. 

Geo. Rountree, 

R. 0. BUKTON, 

Solicitors for Complainant. 
North Carolina, 

New Hanover County. 
Warren G. Elliott being duly sworn, says that he is an officer of the plaintiff 
corporation, to-wit: its President, that he has read the foregoing bill, and knows 
the contents thereof, and that the matters therein stated as of his own knowledge 
are true, and those stated on information and belief he believes to be true. 
Subscribed and sworn to before me this 15th day of July, 1899. 

Warren G. Elliott. 
(Seal) RoBT. D. Cronly, Notary Public. 

A true copy. 
Teste : . 

(Seal) N. J. RiDDiCK, Clerk, 

July 18, 1899. 



COMPLAINTS AND DECISIONS. 97 



Rill. 

The complainant, the Southern Railway Company, is a corporation chartered, 
created, and organized, under the laws of the State of Virginia, and is a citi- 
zen of that State, doing business in the State of North Carolina; and the said 
complainant, brings this, its bill of complaint, against the North Carolina Cor- 
poration Commission, Franklin McNeill, Chairman, Samuel L. Rogers, and E. C. 
Beddingfield, members of the said Commission, and H. C. Brown, Clerk of the 
said Commissioii, and H. W. Ayer, Auditor of the State of North Carolina, and 
William H. Wortii, Treasurer. 

That the said North Carolina Corporation Commission, was created by act of 
the General Assembly of said State, entitled "An Act to establish the North Car- 
olina Corporation Commission," ratified the 6th day of March, A. D., 1899. 

That a copy of the said act, establishing the said Commission, is hereto 
attached, marked "A", and is made a part of this bill; that the place of business 
of the said Commission is in "the city of Raleigh, within this, the Eastern Dis- 
trict of North Carolina, and within the jurisdiction of this Court. That each 
and every mem.ber of the said Commission is a citizen, and resident of the State 
of North Carolina. That H. C. Brown, the Clerk of the said Commission, is a 
citizen of the State of North Carolina, and resident within the Eastern District 
of North Carolina. That the said Auditor, H. W. Ayer, and the said Treasurer, 
William H. Worth, are citizens of the State of North Carolina, and residents of 
the said District. 

Complaining, your orator, the Southern Railway Company, says: 

1. That the amount involved, and matter in dispute, between complainant and 
respondents exceeds, exclusive of interest and costs, the sum and value of two 
thousand dollars, all of which will appear to the Court in a subsequent part of 
this bill. 

2. That your orator, the complainant, is the owner of, and is operating, a num- 
ber of railroads in the State of North Carolina, the number of miles covered by 
the same being about twelve hundred, that the said railroads, the names of 
which will appear in a subsequent part of this bill, have been managed and 
operated in a lawful manner, and in response and obedience to the laws, and 
the rules prescribed by the authorities of the said State. 

3. That, as will be seen by reference to an act of the General Assembly of 
North Carolina, entitled "An Act to provide for the assessment of property, and 
the collection of taxes," ratified the 8th day of March, 1899, it being chapter fif- 
teen (15) Public Laws of North Carolina, and section forty-two (42), the Com- 
missioners elected from to time, under the authority of "An Act to provide for 
the general supervision of railroads, steamboat and canal companies, express 
and telegraph companiess doing business in the State of North Carolina," shall 
constitute a board of appraisers and assessors for railroad, telegraph, canal and 
steamboat companies. That copies of sections forty-two (42), forty-three (43) 
and those following, to and including section fifty (50), of the said act, are hereto 
attached, and m.ade a part of this bill, marked "B". 

4. That, under and by virtue of the provisions of the said act, entitled "An 
Act to establish the North Carolina Corporation Commission", it being chapter 
one hundred and sixty-four (164) of the Public Laws of North Carolina, for the 



98 N. C CORPORATION COMMISSION. 

session and year 1899, the Board of Railroad Commissioners ceased to exist as 
created and established under chapter three hundred and twenty (320) of the 
laws of North Carolina, session 1891, the same being "An Act to provide for the 
general supervision of railroads, steamboat and canal companies doing business 
in the State of North Carolina," having been repealed oy the said act of 1899. 

5. That, as your orator is advised and believes, the act of the General Assembly 
of North Carolina, creating said Corporation Commission, created as hereinbefore 
set out, does not confer upon the North Carolina Corporation Commission the 
power to appraise and assess the railroad property in the State for taxation; 
nor does the act of the session of 1899, entitled "An Act to provide for the 
assessment of property and the collection of taxes," confer upon the said Corpora- 
tion Commission the power to appraise and assess the railroad property in the 
State for taxation. 

8. That the said Corporation Commission, claiming for itself the right and 
power to assess and appraise the railroad property of your orator in the State 
of North Carolina for taxation, under the taxing laws of the State as herein- 
before set out, has assessed and appraised the railroad property of complainant, 
your orator, as follows: 

Atlantic, Tennessee and Ohio Railroad (45 miles), $8,000 per mile, $379,690. 

Charlotte, Columbia and Augusta Railroad (11.48 miles), $20,000 per mile, 
$252,850. 

Northwestern North Carolina Railroad (25.37 miles), $12,000 per mile; (74.78 
miles), $8,000 per mile, $939,710. 

Oxford and Clarksville Railroad (49.35 miles), $5,000 per mile, $269,525. 

Oxford and Henderson Railroad (12.72 miles), $5,000 per mile, $69,385. 

Piedmont Railroad (42.73 miles), $25,000 per mile, $1,214,850. 

Statesville and Western Railroad (20.36 miles), $3,000 per mile, $67,450. 

Western North Carolina Railroad, main line, (185.48 miles), $16,000 per mile, 
Murphy Branch (122.16 miles), $4,000 per mile, $3,766,050. 

Atlanta and Charlotte Air Line Railroad (43.19 miles), $20,000 per mile, 
$956,410. 

Asheville and Spartanburg Railroad (41.92 miles), $8,000 per mile, $370,145. 

High Point, Randleman, Ashboro and Southern Railroad (26.78 miles), 
$4,500 per mile, $130,725. 

North Carolina Railroad (225.90 miles), $20,000 per mile, $4,694,848. 

North Carolina Midland Railroad (53.51 miles), $2,600 per mile, $145,456. 

State University Railroad (10.14 miles), $2,100 per mile, $24,999. 

Yadkin Railroad (44 miles), $3,000 per mile, $131,935. 

Atlantic and Yadkin Railroad (161.08 miles), $8,250 per mile, $1,328,910. 
Rolling stock added with other property making $1,445,288. 

7. That the appraisem^ent and assessment of this property of your orator 
reaches the enormous sum of nearly fifteen and one-half millions dollars, includ- 
ing an assessment of other rolling stocKs at a valuation of $399,292. 

8. That this assessment and appraisement of the said railroad property is in 
excess of the value put upon the same property for the year 1898, by the Board 
of Railroad Commissioners, in a sum exceeding $3,671,000, being an increase of 
about thirty-five per centum over the valuation of that year. This is shown by 



COMPLAINTS AND DECISIONS. 99 

an abstract of the assessment and appraisement for the year 1898 and 1899, taken 
from the records of the Corporation Commission, hereto attached, and 
marked "C". 

9. That, under the taxing laws of North Carolina, the corporate authorities of 
the several counties of ttie State are charged with the duty, and invested with 
the power, of valuation for taxation of the real and personal property of the 
citizens of the State, and that from time immemorial the said authorities 
have, intentionally, designedly, systematically, and arbitrarily undervalued, for 
taxation, throughout the entire State, the said real estate and personal property 
of the taxpayers. That the valuation put upon the said real and personal 
property throughout the said State has not, as your orator is informed and 
believes, from time immemorial, in accordance with this well-known rule and 
custom, exceeded the sum of from fifty to sixty per cent of the real value 
of the said property. That this undervaluation by the assessors in the dif- 
ferent counties of the State, systematically and intentional, has been at all times 
according to a uniform and well-understood rule of reduction, and was for the 
purpose of reducing the proportionate burden of the expenses of the State 
Government which each particular county would have to bear. That this rule 
of reduction was, and has been at all times, well known to the public and well 
known to the Legislature and Executive branches of the Government; and well 
known to the assessors and appraisers of the railroad properties in the State 
for taxation. 

See Exhibit "D". 

10. That, with this knowledge of this rule of reduction, the respondents, the 
North Carolina Corporation Commission, have assessed and appraised the rail- 
road property of your orator at a greater sum than its real value for taxation, 
which will result in the taking and depriving your orator of its property, with- 
out due process of law, and denying to your orator, also, the equal protection of 
the laws, in violation of the Constitution of the United States in its Fourteenth 
Amendment. 

11. That, under the Constitution of North Carolina, taxation shall be by 
uniform rule, and your orator alleges, that, in the appraisement and valuation 
of its property at a greater sum than its full value, while the property of the 
citizens of the counties is appraised at about one-half its value, as hereinbefore 
set out, for taxation, there is a denial to it of the equal protection of the laws, 
is a discrimination against it, and in violation of the rule of uniformity, under 
the Constitution. 

12. That, under the taxing laws of North Carolina, the Commissioners, when 
they shall have determined the value of the railroad property of complainant, 
are required to certify to the Chairman of County Commissioners, and the 
Mayor of each city or incorporated town, the amount apportioned to his county, 
city, or town, and also to make and forward a like certificate to the Auditor of 
the State. 

13. That, as your orator is informed and believes, the said Corporation Com- 
missioners, Franklin McNeill, Chairman, Samuel L. Rogers, and E. C. Bedding- 
field, are preparing to make these said certificates to the said chairmen of the 
several Boards of County Commissioners, and Mayors of the several cities and 



100 N. C. CORPORATION COMxMISSION. 

towns, as apportioned; and to that end, the said respondent, H. C. Brown, Clerk, 
is engaged in the work; that the said respondent, H. W. Ayer, Auditor of the 
State, is preparing to make his certificates as the law requires; and the Treas- 
urer, the said William H. Worth, will proceed under the taxing laws of the 
State to institute actions, to enforce the payment by your orator of the amount 
of the taxes certified to be due, as aforesaid, unless restrained by the order of 
this Court from so doing. 

14. That your orator further says it is ready to pay such portion of the taxes 
imposed as are just, equal, and uniform, the same to be in amount such a per 
cent of the assessment made by the respondents as this Honorable Court may 
decree. 

15. That, in view of the facts set out in your orator's bill, to be required to 
pay the great amount, to be certified as hereinbefore set out, upon this unequal 
and urjust assessment, will result in irreparable injury to complainant, your 
orator, and will be against conscience, and not in accordance with the rules of 
equity. 

Wherefore, the premises considered, your orator prays: 

1. That this Honorable Court enter a decree, in accordance with the prayer 
of this bill that an injunction issue upon the respondents, as set out in the bill, 
also. 

2. That not only a writ of injunction, conformably to the prayer of this bill, 
be issued, but also a writ of subpoena of the United States of America, directed 
to each and every one of the respondents, commanding him and them on a day 
certain to appear and answer, but not under oath, unto this bill of complaint, 
and to abide and perform such order and decree in the premises as to the 
Court shall seem proper, and required by the principles of equity and good 
conscience. 

3. That if, in anything, your orators are mistaken in the relief prayed for, 
then they pray for all such other, further, and general relief as the premises 
may warrant, and the rules of equity allow. 

(Signed) Southern Railway Company. 
By Chas. Price, Solicito'y. 

This day, comes A. B. Andrews, who makes oath, that he is an officer 
of the Southern Railway Company, a corporation; to-wit, the First Vice-Presi- 
dent of the same, and that the foregoing bill of complaint is true of his own 
knowledge, except as to matters stated on information and belief, and as to 
those matters he believes it to be true. 

Sworn to and subscribed before me, this 15th day of July, A. D., 1899. 

(Signed) W. T. Smith, 

(N. P. Seal) Notary PuUic. 



complaints and decj signs. 101 

Ordkr. 

On reading the verified bill in the above-entitled suit, and exhibits filed as a 
part thereof, it is ordered, that the complainant's motion for injunction, etc., 
pursuant to the prayer of the bill, be set down for hearing at 12 o'clock m., before 
the Circuit Court of the United States, at Asheville, North Carolina, on the 13th 
day of September, 1899, or as soon thereafter as counsel can be heard. This 
being a proper case for a temporary restraining order, it is ordered and decreed, 
that, until the hearing of such motion for injunction, etc., and the further order 
of the Court thereon, the respondents, the North Carolina Corporation Commis- 
sion, Franklin McNeill, Chairman, Samuel L. Rogers, and E. C. Beddingfield; 
and H. C. Browii, Clerk; and H. W. Ayer, Auditor and William H. Worth, 
Treasurer, are restrained, prohibited, and enjoined from making any certifi- 
cates, serving any notices, or causing any such to be made, or from instituting 
any actions for the purpose of compelling the payment of the taxes set out in 
the bill; and the said respondents, each and every one, are restrained and 
enjoined from taking any action to compel or advance the payment of the said 
amount of taxes. 

It is further ordered, that a certified copy of this order be served upon each 
and every one of the respondents, by delivery of the same to him. 

It is further ordered that subpoenas issue to the respondents, as prayed for in 
the bill. 

It is further ordered that the complainants pay to the proper officers of the 
State, count'es, cities and towns, at the times prescribed by law, taxes for 1899, 
on the basis of the assessment of 1898. 

It is further ordered that the complainants enter into an injunction bond in 
the penal sum of ten thousand aollars ($10,000) with sureties to be approved 
by the Judge of this Court, as indemnity for the defendants in case this suit 
is decided against said complainants. 

Dated this 17th day of July, 1899, Plat Rock, N. C. 

(Signed) Charles H. Simonton, 

Circuit Judge. 

A true copy. 

Teste: 

(Seal) N. J. RiDDiCK, Clerk. 

July 18, 1899. 



Original Bill. 

The Raleigh and Gaston Railroad Company, a corporation created by and 
existing under the laws of the State of North Carolina, brings this, its Bill of 
Complaint, against the North Carolina Corporation Commission, and against 
Franklin McNeill, Chairman, S. L. Rogers and B. C. Beddingfield, constituting 
and composing the said North Carolina Corporation Commission, and Henry C. 
Brown, Clerk thereof, William H. Worth, Treasurer, and Hal W. Ayer, Auditor 
of the State of North Carolina. 

And thereupon your orator complains and alleges: 



102 N. C. CORPORATION COMMISSION 

1. That your orator is a corporation duly created and existing under and by 
virtue of the laws of North Carolina, and that your orator is a citizen and resi- 
dent of the bcate of North Carolina and of the Eastern District thereof. 

2. That the defendants Franklin McNeill, S. L. Rogers and E. C. Beddingfield 
constitute the North Carolina Corporation Commission, the said Franklin 
McNeill being Chairman thereof, and Henry C. Brown, Clerk thereof, and their 
office and official place of business is in the city of Raleigh, in the said State 
of North Carolina and in the Eastern District thereof. That the defendants 
Franklin McNeill, E. C. Beddingfield, William H. Worth and Hal W. Ayer, are 
citizens and residents of the said Eastern District of North Carolina, and the 
defendant S. L. Rogers is a citizen and resident of the State of North Carolina. 

3. That on or about the 5th day of March, 1891, the General Assembly of the 
State of North Carolina passed an act entitled, "An Act to provide for the 
General Supervision of Railroads, Steamboat or Canal Companies, Express and 
Telegraph Companies doing business in the State of iSorth Carolina," and being 
chapter 320 of the Laws of North Carolina for the session of 1891. That there- 
after the said act was amended or supplemented by acts of said General Assem- 
bly of North Carolina, ratified on the following dates: 

April 1, 1891, February 9, 1893, March 6, 1893, and February 14, 1893; to which 
said acts and amendments your orator begs leave to refer and by reference 
include herein with the same force and effect as though the same were here set 
forth at length. 

4. That the amount involved in this suit is over two thousand dollars, exclusive 
of interest and costs, and this suit is one arising under the Constitution of the 
United States. 

5. That on the 6th day of March, 1899, the General Assembly of North Caro- 
lina professed to repeal the aforesaid Railroad Commission Act, being chapter 
320 of the Laws of 1891, and all acts amendatory thereof, and on the 8th day 
of March, 1899, in section 42 of the act to provide for the assessment of property 
and the collection of taxes, commonly called the "Machinery Act," provided as 
follows: "The Commissioners elected from time to time under the authority of 
an act to provide for the general supervision of railroads, steamboat or canal 
companies, express and telegraph companies doing business in the State of North 
Carolina shall constitute a board of appraisers and assessors for railroad, tele- 
graph and steamboat and canal companies" and in subsequent sections of said 
act the method and details of said procedure are marked out with great partic- 
ularity, referring always to the Commissioners above-mentioned. 

5. That on the 8th day of March, 1899, the said General Assembly passed an 
act entitled, "An Act to Raise Revenue," and by the 60th and 61st sections 
thereof it is provided: 

"Sec. 60. That for the purpose of raising revenue and equalizing 
taxation, the Railroad Commission or any body succeeding to their 
powers, are hereby required and directed, as soon as practicable, and in 
time for the levy of 1899, to revise the assessments for taxation of the 
entire railroad property of the State, and in doing so they should take 
into consideration the nature of the franchise and gross earnings and 
the net income of each road. 



COMPLAINTS AND DKCISIONS. 103 

"Sec. 61. That said assessors shall so increase the assessments, where 
such increase is justified, as will make each part and parcel of railroad 
property bear its fair proportion of the burden of taxation." 
Your orator calls attention to the various sections of said act to raise revenue, 
being chapter 11 of the Laws of 1899, bearing upon the said Board of Railroad 
Commissioners as a Board of Assessment, and particularly to sections 37, 38, 39, 
40, 41. 42, 43, 44, 45, 46 and 47 of said act. and prays that the whole of said act 
may be taken as parts of this bill as if fully set out herein. 

6. Your orator submits to the Court whether the Board of Railroad Commis- 
sioners is not preserved as a Board of Asessors, with the power of review and 
equalization committed to the North Carolina Corporation Commission and 
whether the said Corporation Commission have any original powers as an assess- 
ing board. 

7. That by article 5, section 3, of the Constitution of North Carolina it is 
provided: "Laws shall be passed taxing by a uniform rule all moneys, credits, 
investments in bonds, stocKs, joint stock companies or otherwise, and also all 
real and personal property according to its true value in money. The General 
Assembly may also tax trades, professions, franchises, and incomes, provided 
that no income shall be taxed when the property from which the income is 
derived is taxed." And by article 7, section 9, of said Constitution it is also 
provided: "All taxes levied by any county, city, town or township, shall be 
uniform and ad valorem upon all properly in the same, except property exempted 
by this Constitution." 

8. That the defendants composing the North Carolina Corporation Commis- 
sion have undertaken to assess originally the value of all railroad property in 
North Carolina, and have assessed the value of the property of your orator in 
said State as follows: 

Two million four hundred and five thousand dollars and seventy-eight cents, 
and this is only the valuation of the track and right of way. 

9. That all the property in the State, other than railroad property, with few 
exceptions, is assessed by local assessment boards in each township, with a power 
of equalization and revision lodged in the Board of County Commissioners of 
the respective counties. And there has grown up before these local County 
Boards an almost immemorial and well-recognized custom to assess for taxation 
all property other than railroad property, and especially farming lands, at less 
than its actual value, and, as your orator is informed and believes, said value for 
taxes is fixed at from fifty to sixty per cent of its actual value. The said prop- 
erty is systematically and designedly assessed at such under-values by said local 
and county boards, and such method generally prevails throughout the State. 

10. That the property of your orator has been assessed by the defendants at 
its full value, and as your orator is informed and believes it was designedly so 
assessed by them, and the universal custom as to other property, taken in con- 
nection with defendant's action as to the property of your orator is a wrongful 
discrimination against it, and deprives it of its property without due process 
of law, and denies to it the equal protection of the laws, which is guaranteed to 
it by the Fourteenth Amendment to the Constitution of the United States, the 
protection of which it expressly claims. 



104 N. C. CORPORATION COMMISSION. 

11. And your orator further alleges that the method of appraisement pre- 
scribed by law for the valuation of railroad property is different from that 
prescribed for the valuation of other property, including other corporations. 
That while under the laws of this State, lands and improvements thereon are 
assessed for taxes every fourth year, the property of railroad companies, con- 
sisting largely of land and improvements thereon is assessed for taxation 
annually, in this respect being treated as personal property, but that for the 
purposes of lien and collection of taxes the acts of the General Assembly treat 
the property of railroad corporations as real estate, and further, by section 60 
of the Revenue Law, it is provided that the assessors in valuing railroad prop- 
erty shall take into consideration the value of the franchise, the gross earnings 
and the net income of eaeh road;v/hile in the appraisement of the value of other 
corporatioDs there is no direction to the appraisers to consider the franchises, 
gross earnings or income, nor is there any direction to the assessors in placing 
a valuation on the property of individuals to consider the earning capacity of the 
property. And your orator further alleges, on information and belief, that the 
differerre in method was intended to cause railroad property to be assessed at 
its full value, when it was notorious that farming lands are habitually assessed 
at from fifty to sixty per cent of their value, and so make such property bear 
more than its fair proportion of the burden of taxation, and whether so intended 
or not, the honest application of the prescribed method by the defendants Frank- 
lin McNeill, S. Lr. Rogers and E. C. Beddingfield does in fact result in taxing rail- 
road partially, unfairly and unjustly, in violation of article 5, section 3, of the 
Constitution of North Carolina and of the Fourteenth Amendment to the Con- 
stitution of the United States, and to the great injury of your orator. 

12. That by section 45 of the said Machinery Act, chapter 15, of the Laws 
of 1899, it is provided: "The said Commissioners shall first determine the value 
of each railroad, rolling stock and other property, ascertaining such value from 
the earnings as compared with the operating expenses, and taking into consid- 
eration the value of the franchise as well as other conditions proper to be con- 
sidered in arriving at the true value of the property, as in the case of private 
property, and the aggregate value thus determined shall be apportioned in 
the same proportion that the length of such road in each county bears to the 
entire length thereof; and the Commissioners shall certify to the Chairman of 
County Commissioners and the Mayor of each city and incorporated town the 
amount apportioned to his county, city or town, and the Commissioners shall 
make and forward a like certified, together with all the reports of hte various 
railroad officers or copies thereof and other papers and evidence which form the 
basis of the valuation, to the Auditor of the State. All taxes due the State from 
any railroad company, except the tax imposed for school purposes shall be paid 
by the treasurer of each company directly to the State Treasurer within thirty 
days after the first day of July of each year, and upon failure to pay the State 
Treasurer as aforesaid, he shall institute an action to enforce the same in the 
county of Wake or any county in which said railroad is located. The Board of 
County Commissioners of each county through which said railroad passes shall 
assess against the same only the tax imposed by the State for school purposes 
and those imposed for county purposes. 



COMPLAINTS AND DECISIONS. 105 

13. That by virtue of said provision, the defendants, unless restrained by this 
Honorable Court, will at once certify their valuation of the property of your 
orator to the Auditor of the State, and will so certify to the Chairman of the 
Board of County Commissioners of each county, and to the Mayor of each city 
or incorporated town through which the road of your orator runs, the propor- 
tionate part of the valuation of your orator's property assigned to them, and 
your orator will then be expected and required to pay the taxes thereon within 
the time allowed by law. The road of your orator runs through at least five 
counties and ten incorporated towns and cities, and unless this action of said 
defendants is restrained by the Court, the plaintiff will be put to a multiplicity of 
actions and harrassing litigation. Moreover, the taxes levied in each county, 
city and town, will be liens upon your orator's property as soon as listed, and will 
cast a cloud upon the title thereto. 

14. That there has been a persistent and steady increase in the assessment 
of your orator's property at each annual assessment for the past several years, 
while the assessment of all other property nas remained practically the same. 
In 1898 your orator's property was assessed at $1,888,708.44, which your orator 
believed and still believes was too high when considered in connection with 
the valuation of other property in the State, and wrongfully discriminated 
against your orator, but has no desire to embarrass the administration of the 
State Government and is willing to pay into court for the year 1899, for the use 
of the State and of each county, city and town, the amount of taxes assessed 
against it for the year 1898. 

15. Upon information and belief, your orator alleges that the valuation of rail- 
road property in North Carolina is out of all proportion to the valuation of other 
property in the State. The valuation of railroad property is now practically 
the same as the valuation of all the town lots, including buildings and improve- 
ments thereon in cities, towns and villages, to-wit: About $44,000,000. In 1898 
all property in the State other than railroad property was assessed at about 
$239,000,000, while railroad property was then assessed at $33,000,000 and now at 
$44,000,000. The farming lands of the State, 28,000,000 acres, were, as it is 
informed and believes, assessed at $110,000,000, with a yielding capacity of 
from $50,000,000 to $60,000,000. 

That the respondent, W. H. Worth, is the Public Treasurer of the State of 
North Carolina, and the respondent, Hal W. Ayer, is the Public Auditor thereof. 
Wherefore your orator prays that the defendant, the North Carolina Commission 
and Franklin McNeill, S. L. Rogers and E. C. Beddingfield, members thereof,, 
and Henry C. Brown, Clerk of the same; and William H. Worth, Treasurer, and 
Hal W. Ayer, Auditor, be made parties-defendant to this bill, and that sub- 
poena thereon may issue in due course, and that each of said defendants be 
required to answer this bill according to the usual practice of this Honorable- 
Court, but without oath, an answer under oath being hereby expressly waived; 
that on the hearing the unjust discrimination against your orator be declared 
unconstitutional and void, and that the said Corporation Commission be 
restrained and enjoined from valuing the property of your orator in excess of 
the valuation of 1898, or in excess of a valuation equal and uniform with other 
property in the State; that the said W. H. Worth, Treasurer, and Hal W. Ayer, 
1 8 



106 N. C. CORPORATION COMMISSION. 

Auditor, be enjoined and restrained from collecting taxes from your orator on 
the basis of the present assessment and from taking any steps in the premises till 
the further order of the Court; that in the meantime the said Corporation Com- 
mission and Franklin McNeill, S. L. Rogers and B. C. Beddingfield and H. C. 
Brown be enjoined and restrained from certifying the said assessment to the 
Auditor of the State and to the Board of Commissioners of the several counties, 
and to the Mayor or other authorities of the several cities, tov^ns and villages 
through which your orator's road runs, and from taking any further steps in 
the matter of said assessment or of the taxation of your orator's propetry until 
the further order of the Court; that the said Auditor and Treasurer be enjoined 
and restrained from collecting any taxes on the basis of said assessment, and 
from certifying the same to any Board of Commissioners, Mayor, or any other 
officer of any county, city or town, and from instituting any suit or suits for the 
collection of any taxes or of any penalty or penalties on account of the nonpay- 
ment of any taxes arising on account of said assessment till the further order 
of the Court, and for such other and further relief as may be just, and the 
nature of the case demands, and for costs. 

Legh R. Watts, 
Jno. D. Shaw, 
Solicitors for Complainant. 
State of Virginia, 

City of Portsmouth. 
Jno. H. Sharp, being duly sworn, says that he is an officer of the plaintiff 
corporation, to-wit: Its treasurer, that he has read the foregoing bill, and 
knows the contents thereof, and that the matters therein stated as of his own 
knowledge are true, and those stated on information and belief he believes to 
be true. Jno. H. Sharp. 

Subscribed and sworn to before me this 15th day July, 1899. 

J. M. Perkins, 

Notary Public. 
A true copy. 
Teste: 

(Seal) N. J. RiDDiCK, Clerk. 

July 18, 1899. 



Order. 



upon reading the verified bill of complaint in this cause, and upon considera- 
tion of the same, now upon motion of R. O. Burton and George Rountree, Solic- 
itors for the complainant, it is ordered that said defendants, the North Carolina 
Corporation Commission, Franklin McNeill, S. L. Rogers, B. C. Beddingfield; 
Henry C. Brown, Clerk; William H. Worth, Treasurer, and Hal W. Ayer, 
Auditor, and each of them show cause before me at the United States Court 
House in Asheville, in the State of North Carolina, on the 13th day of September, 
1899, at 10 o'clock a. m., or as soon thereafter as counsel can be heard, why the 
prayer of the said bill of complaint should not be granted, and why an injunction 



COMPLAINTS AND DECISIONS. 107 

as therein prayed should not be granted and ordered until the final hearing of 
this cause. And it is further ordered that until the further order of this Court 
and until after the entry and filing of any such order as the Court may make 
upon the hearing aforesaid, the said defendants, the North Carolina Corporation 
Commission and Franklin McNeill, S. L. Rogers and B. C. Beddingfleld, mem- 
bers thereof, and Henry C. Brown, Clerk, be and they are hereby restrained and 
enjoined from certifying the assessment for taxation or any part thereof, of 
the property of the complainant made for the year beginning June 1, 1899, 
which they have just made, to the Auditor of the State, and to the Board of 
Commissioners of the respective counties of the State, and to the Mayor or other 
authorities of the cities and incorporated towns of the State, through which 
the complainant's road passes, or to any one of said officers or authorities, and 
from certifying their said assessment or any part thereof to any officers of the 
State of North Carolina or of the counties, cities and incorporated towns of said 
State, and from taking any steps whatever in respect to the assessment or taxa- 
tion ol; said railroad property. 

It is further ordered that the defendant W. H. Worth, Treasurer, and Hal W. 
Ayer, Auditor, be and they are hereby enjoined and restrained from taking any 
sieps to collect any taxes from the complainant on the basis of said assessment, 
and from instituting or causing to be instituted any suit or suits to collect the 
same or to collect any penalties for the non-payment of said taxes, and the 
said W. H. Worth and Hal W. Aj^er are further enjoined and restrained from 
certifying to the Board of Commissioners of the respective counties and to the 
Mayor and other authorities of the cities and incorporated towns through which 
said complainant's road passes the said assessment or any part thereof or 
division of the same, till the further order of this court. 

It is further ordered that a copy of this order be forthwith served upon each of 
the defendants herein. 

It is further ordered that the complainants enter into an injunction bond in 
the penal sum of ten thousand dollars ($10,000), with sureties to be approved 
by the judge of this court, as indemnity for the defendants, in case this suit 
is decided against said complainants. 

It is further ordered that the complainants pay to the proper offcers of the 
State, counties, cities and towns, at the times prescribed by law, taxes for 1899, 
on the basis of the assessment of 1898. 

Dated the 17th day of July, 1899, at Plat Rock, N. C. 

Charles H. Simonton, 

Circuit Judge. 

A true copy. 

Teste: 

(Seal) N. J. RiDDiCK, Clerk. 

July 18, 1899. 

The orders in each of the other cases are substantially the same and are not 
printed herein. 



107 a n. c. corporation commission. 

• Answer. 

the wilmington and wbldon railroad company 

vs. 
THE NORTH CAROLINA CORPORATION COMMISSION, FRANKLIN 

McNeill, chairman, samuel l. Rogers, and e. c. bedding- 
field ; HENRY C. BROW^N, CLERK; WILLIAM H. WORTH, TREAS- 
URER, AND HAL W. AYER, AUDITOR. 

The joint and several answers of the North Carolina Corporation Commission, 
Franklin McNeill, Chairman, Samuel L. Rogers and E. C. Beddingfield, Henry 
C. Brown, Clerk; William H. Worth, Treasurer, and Hal W. Ayer, Auditor, to 
the bill of complaint herein. 

These defendants, now and at all times saving and reserving unto themselves 
and each of them all benefit and advantage of exception which can or may be 
had or taken to the errors or uncertainties or other imperfections in said bill of 
complaint, for answer thereto, or unto so much or such parts thereof as these 
defendants are advised is or are material or necessary for them or any of them to 
answer unto, these defendants severally say as follows, anwering, say: 

I. 

The defendants admit the allegations of the first paragraph of the bill of 
complaint. 

II. 

The defendants admit the allegations of the second paragraph of the bill of 
complaint. 

III. 

The defendants admit the third paragraph thereof xo be true, except that the 
act alleged to have been ratified on April 1, 1891, was ratified on the 9th day 
of March, 1891, to take effect on April 1, 1891, And they allege that the said 
act of the 5th of March, 1891, was further amended by sees. 44 to 52, inclusive, of 
an act passed on March 9, 1891, chap. 325, Public Laws of 1891, known as the 
Machinery Act, and by similar acts passed in 1893, 1895 and 1897. That it was 
also amended by sees. 42 to 50, inclusive, of an act known as the Machinery 
Act, ratified on the 8th day of March, 1899, and also by an act known as the 
Revenue Act, ratified on the 8th day of March, 1899, sees. 60 and 61. It was also 
amended by an act ratified on the 8th day of March, 1899, entitled "An Act to 
authroize the Railroad Commission, the North Carolina Corporation Commis- 
sion, or such board as shall succeed to their duties, to assess property which has 
escaped taxation. 

IV. 

The defendants admit the allegations of the fourth paragraph of the bill of 
complaint, except that this suit is one arising under the Constitution of the 
United States, which they deny. 



COMPLAINTS AND DECISIONS. 107 6 

V. 

The defendants admit and allege that on the 6th day of March, 1899, the 
General Assembly repealed the aforesaid Railroad Commission Act, being 
chap. 320 of the Laws of 1891, and all acts amendatory thereof, the said repeal- 
ing act to go into effect on the 4th day of April, 1899, and that on the 8th day 
of March, ^899, in sec. 42 of the act to provide for the assessment of property 
and the collection of taxes, commonly called the "Machinery Act," it is provided 
as alleged in paragraph 5 of the bill of complaint. The defendants further 
allege that on the 6th day of March, 1899, the General Assembly of North Car- 
olina enacted and ratified an act to establish the North Carolina Corporation, 
the 23rd subsection of sec. 2 of which provided that the said Corporation Com- 
mission is hereby empowered and directed tO' perform "all the duties and exer- 
cise all the powers imposed or conferred by chap. 320 of the Public Laws of 
1891, and the acts amendatory thereto," including all of the above-mentioned 
amendatory acts, and that this act went into effect on April 5, 1899. 

VI. 

The defendants admit the allegations of the sixth paragraph of the bill of 
complaint. 

VII. 

That the sevench paragraph thereof raises a question of law, and the defend- 
ants allege that the Railroad Commission is not preserved as a board of assess- 
ors, but that the Corporation Commission has succeeded co all their powers, 
including the power to assess for taxation the property of plaintiff and other 
railroad companies. 

VIII. 

The defendants admit the allegations of the eighth paragraph of the bill of 
complaint. 

IX. 

The defendants admit and allege that the defendants McNeill, Beddingfield 
and Rogers, acting as the North Carolina Corporation Commission, under the 
authority of the several acts of the Legislature hereinbefore set forth, revised, 
appraised and assessed the values of all the railroad property in North Carolina, 
and have assessed the property of the plaintiffs, other than depots, section 
houses, water tanks, shops, lots, etc., rolling stock and equipments, at the sum 
named in said paragraph. 

X. 

That it is true that all property in the State other than railroad property, 
with few exceptions, is assessed by the local boards of assessors in each town- 
ship, with a power of equalization and revision lodged in the Boards of County 
Commissioners of the respective counties, but it is not true that there has grown 
up before these local boards an almost immemorial and well-recognized custom 



107 C N. C. COKPORATION COMMISSION. 

to assess for taxation all property other than railroad property, and especially 
farming lands, at less than its actual value, or that said value for taxes is fixed 
at from fifty to sixty per cent. Nor is it true that said property is assessed 
designedly at such under-values by said local and county boards, or that such 
method generally prevails throughout the State. On the contrary, defendants 
allege that no such custom or rule of under-valuation exists in this State. And' 
they allege, upon information and belief, that property, other than railroad 
property, is assessed by local boards of assessors in each township at approxi- 
mately its true value in money, as the lavv requires it should be. 

XI. 

That the eleventh article thereof is not true, and they allege that in valuing 
the plaintiff's property Lhey endeavored to be fair and liberal in making their 
said assessment, and to fix the same upon a consideration of all the facts and 
circumstances which it is proper for them to consider in arriving at a basis 
of fair valuation, and which they are directed to consider by law, and with due 
reference and regard to all the facts and circumstances known to them concern- 
ing the methods and standards v^^hich prevail in valuing property for taxation, 
and in compliance with law requiring them to ascertain and fix the value of 
railroad property on a given day, to-wit: the 1st day of June, a time of the 
year when property generally brings its lowest value. And they honestly and 
to the best of their ability sought, in making said valuations, to be fair and just 
to the plaintiff and public, and to fix a valuation that would impose upon it only 
its fair proportion of the burdens of taxation. They deny utterly that the 
valuation so made discriminates against the plaintiff in favor of any other 
species of property. On the contrary, the investigations which they have made, 
and the facts which have been disclosed in this suit and other suits which have 
been brought by railroad companies against the defendants, as to the methods 
and basis of valuation of railroad property existing in other States and 
approved by the courts of last resort, and as to the actual value of the plain- 
tiff's property, convince them, and they so allege, that the property of the plain- 
tiff is assessed at a lower rate than that at which the other property of the 
State than that of railroads is valued. That they verily believe that the prop- 
erty of the plaintiff could be readily sold in open market for much more than 
the sum at which it is assessed. That in assessing the rolling stock and other 
tangible personal property of the plaintiff, they adopted the valuations placed 
thereon by the plaintiff, which they believe was less than their true value. 
That it is not true that the assessment made by them against the plaintiff dis- 
criminates against it in favor of any other class of property and deprives it of 
its property without due process of law, or denies to it the equal protection of 
the laws. 

XII. 

That it is true that the laws of North Carolina classify different species of 
property for taxation, but it is not true that the plaintiff's property is required 
to be assessed by a different method prescribed for the assessment of the prop- 
erty of other corporations than railroads in any way discriminates against the 
railroads or violates the principle of uniformity contained in the Constitution. 



COMPLAINTS AND DECISIONS. 107 d 

That it is true under the laws of this State lands are assessed every four years, 
but it is not true that improvements on land are only assessed once in four 
years. On the contrary, the improvements upon land are assessed annually. 
That it is true that the property of railroads is required to be assessed annually, 
and it is true that sec. 60 of the Revenue Laws directs the Commission in assess- 
ing railroad property to consider the value of the franchise, the gross earnings 
and net income of each road. But it is not true that said requirement as to 
the time for the assessment of railroad property and property other than rail- 
road property is a discrimination against said railroads and unlawful. Nor is 
it true that in assessing other property than railroad, the assessors are not 
required by law to consider the income-producing capacity of said property, and 
if a corporation, its franchise. But on the contrary, in the assessment of all 
property, the assessors are required by law to consider every element of value, 
and in the assessment of corporations, to value their stock separately from their 
tangible property, thus including the franchise and every other element of value. 
That it is not true that the law of North Carolina prescribed different methods 
for the assessment of different species of property was intended to cause rail- 
road property or any other class of property to be assessed at its full value while 
some other species of property was required to be assessed at less than its full 
value, or was by custom of any assessing authority assessed at less than its 
true value. Nor is it true that the method provided by law for the assess- 
ment of railroad property, honestly applied, in fact results in taxing railroad 
property unfairly, unjustly and wrongfully, or in violation of any provision of 
the Constitution of North Carolina or of the United States. And they allege 
that the laws of North Carolina require all property without regard to the 
method of assessment to be assessed at its true value. 

XIII. 

That it is true, as alleged in the thirteenth paragraph of the bill of complaint, 
that the valuation of plaintiff's property has been increased, but said increase 
has not been unjustified at any time. It is not true that plaintiff's property is 
assessed too high when considered in connection Avith the valuation of other 
property in this State, nor that it has been wrongfully discriminated against in 
making said valuation in favor of any other class of property. Nor is it true 
that the assessment of other property has remained practically the same. But 
they allege that there has been since the last assessment a substantial increase 
in the assessed value of property other than railroad property, as well as of 
railroad property. 

XIV. 

The defendants admit the allegations of the fourteenth paragraph of the bill 
of complaint. 

XV. 

The defendants admit that the facts set out in the fifteenth paragraph are 
true, except so much thereof as alleges that "unless this action of defendants is 
restrained, the plaintiff will be put to a multiplicity of actions and harrassing 
litigation," which is denied, and they allege that the plaintiff has no just cause of 
compliant in the premises. 



107 e N. C. CORPORATION COMMISSION. 

XVI. 

That it is not true that valuation of railroad property in North Carolina is 
out of proportion to valuation of other property in the State. That with refer- 
ence to the allegation that the farming lands of the State, comprising 30,000,000 
acres, were assessed at $110,000,000, with a yielding capacity of from $50,000,000 
to $60,000,000, while the property of railroads is assessed at $44,000,000, they 
respectfully show to the Court that the gross earnings of the railroads in 
North Carolina for the year ending June 30, 1898, aggregated $11,542,518, while 
the net earnings of said railroads for the same period aggregated $4,147,968, or 
more than one-third of the gross earnings. The net income for the year ending 
June 30, 1899, is greater in proportion to the gross income than for the year 
ending June 30, 1898. It is submitted, that, when the cost of fertilizers, tools, 
farming implements, etc., the immense number of persons employed annually in 
earning the estimated yield of farm lands are taken into consideration, that 
the gross income from said lands will show that after allowing these deductions 
and fair wages to those engaged as laborers, directly or indirectly, in farming, 
there will be very little left to represent the income of the capital invested in 
the lands themselves. 

XVII. 

The defendants admit the allegations of the seventeenth paragraph of the bill 
of complaint. 

All of which matters and things these defendants are ready and willing to 
aver, maintain and prove, as this Honorable Court shall direct, and humbly pray 
to be hence dismissed with their reasonable costs and charges in this behalf 
most wrongfully incurred. 

(Signed) Simmons, Pou & Ward, 
(Signed) H. G. Connor, 
(Signed) J. C. L. Harris, 
(Signed) C. A. Cook, 
(Signed) Jno. W. Hinsdale, 

Solicitors for Defendants. 



complaints and decisions. 107/ 

Answer, 
southern railway company 

vs. 

the north carolina corporation commission, franklin 
McNeill, chairman, samuel l. Rogers and b. c. bedding- 
field ; HENRY C. BROWN, CLERK; WILLIAM H. WORTH, TREAS- 
URER, AND HAL W. AYER, AUDITOR. 

The joint and several answers of the North Carolina Corporation Commission, 
Franklin McNeill, Chairman, Samuel L. Rogers and B. C. Beddingfield; Henry C. 
Brown, Clerk; William H. Worth, Treasurer, and Hal W. Ayer, Auditor, to the 
bill of complaint herein. 

These defendants, now and at all times saving and reserving unto themselves 
and each of them all benefit and advantage of exception which can or may be 
had or taken to the errors or uncertainties or other imperfections in said bill 
of complaint, for answer thereto, or unto so much or such parts thereof as these 
defendants are advised is or are material or necessary for them or any of them 
to answer unto, these defendants severally say as follows, answering say: 

The defendants admit that the plaintiff is a corporation duly created and 
organized under and by virtue of the laws of the State of Virginia, and is a citi- 
zen of that State doing business in the State of North Carolina. That the 
defendant, the North Carolina Corporation Commission, is a corporation created 
and organized under the laws of North Carolina, and that the principal place of 
business of the said Commission is in the city of Raleigh, in the Eastern District 
of North Carolina. That Franklin McNeill, Samuel L. Rogers ana B. C. Bed- 
dingfield are the members of said Commission, rhat Franklin McNeill is the 
Chairman thereof, and H. C. Brown the Clerk thereof. That H. W. Ayer is 
the Auditor of the State of North Carolina, and William H. Worth is Treasurer 
thereof. 

I. 

The defendants admit the allegations of the first paragraph of the bill of 
complaint. 

II. 

The defendants admit the allegations of the second paragraph of the bill of 
complaint. 

III. 

The defendants admit the allegations of the third paragraph of the bill of 
complaint. 

IV. 

That answering the fourth paragraph of the bill of complaint, the defendants 
say that an act entitled "An Act to establish the North Carolina Corporation 
Commission," chap. 164, Public Laws of 1899, was ratified by the General 
Assembly of North Carolina on the 6th day of March, 1899, but by the provis- 
ions of said act it did not go into effect until the 5th day of April, 1899. That 



107 g N. C. CORPORATION COMMISSION. 

on the 6th day of March, at the same session of the General Assembly, an act was 
passed abolishing the Board of Railroad Commissioners, but providing that the 
said act should not go into effect until the 4th day of April, 1899, And by sub- 
section 23, sec. 2, of the said act creating the North Carolina Corporation Com- 
mission, the said Corporation Commission succeeded to all the powers and duties 
conferred upon the Railroad Commission by the said act creating it and the acts 
amendatory thereof, including the power to assess railroad property for taxation. 



The defendants deny the fifth paragraph of the bill of complaint. They allege 
that the North Carolina Corporation Commission, by virtue of the act creating 
it and the laws of North Carolina, possesses and did possess on the 1st day of 
June, 1899, the power to appraise and assess the railroad property of the State 
for taxation. 

VI. 

The defendants admit and allege that the defendants McNeill, Beddingfield 
and Rogers, acting as the North Carolina Corporation Commission, under the 
authority of the several acts of the Legislature herein set out and the general 
law of the State, revised, appraised and assessed the property of the plaintiff 
at the sums specified in the sixth paragraph of the bill of complaint. 

VII. 

They admit that the aggregate appraisement and assessment of plaintiff's 
property reaches the sum mentioned in the seventh paragraph of the bill of 
complaint. 

VIII. 

The defendants admit the allegations of the eighth paragraph of the bill of 
complaint. 

IX. 

That it is true that under the taxing laws of North Carolina the corporate 
authorities of the several counties in the State are charged with che duty, and 
are invested with the power, of assessing for taxation the real and personal 
property of the citizens of the State, but it is not true that from time imme- 
morial the said authorities have intentionally, designedly, systematically or 
arbitrarily undervalued for taxation throughout the State the said real and per- 
sonal property of the taxpayers, and it is not true that the valuation put upon 
the said real and personal property throughout the State, from time imme- 
morial, in accordance with a well-known custom, has not exceeded the sum of 
from fifty to sixty per cent of the real value of the property, nor is it true thai 
said property is undervalued for the purpose of reducing the proportionate bur- 
den of the expense of the State Government which each particular county would 
have to bear, or for any other purpose. That it is not true that any rule of 
reduction was or has at any time been known to the public, to the legislative 
and executive branches of the government or to the North Carolina Corporation 
Commission. On the contrary, the defendants allege that no such custom of 



COMPLAINTS AND DECISIONS. 107 h 

undervaluation as charged exists in this State, and that they further allege, upon 
information and belief, that property other than railroad property is assessed 
by local boards of assessors in each township at approximately its true value 
in money as the law requires it should be. 

X. 

That the tenth article thereof is not true, and they allege that in valuing the 
plaintiff's property they endeavored to be fair and liberal in making their said 
assessment and to fix the same upon a consideration of all the facts and circum- 
stances which it is proper for them to consider in arriving at a basis of fair 
valuation, and which they are directed to consider by law, and with due reference 
and regard to all the facts and circumstances known to them concerning the 
methods and standards v,^hich prevail in valuing property for taxation, and in 
compliance with the law requiring them to ascertain and fix the value of rail- 
road property on a given day, to-wit, the 1st day of June, a time of the year when 
property generally brings its lowest value. And they honestly and to the best 
of their ability sought in making said valuations to be fair and just to the 
plaintiff and public, and to fix a valuation that would impose upon it only its 
fair proportion of the burden of taxation. They deny utterly that the valuation 
so made discriminates against the plaintiff in favor of any other species of 
property. On the contrary, the investigation which they have made, and the 
facts which have been disclosed in this suit and other suits which have been 
brought by railroad companies against the defendants, as to the methods and 
basis of valuation of railroad property existing in other States and approved 
by the courts of last resort, and as to the actual value of the plaintiff's prop- 
erty, convinces them, and they so allege, that the property of the plaintiff is 
assessed at a lower rate than that at which the other property of the State than 
that of railroads is valued. That they verily believe that the property of the 
plaintiff could be readily sold in open market for much more than the sum at 
which it is assessed. That in assessing the rolling stock and other tangible 
personal property of the plaintiff, they adopted the valuations placed thereon by 
the plaintiff, which they believe was less than their true value. That it is not 
true that the assessment made by them against the plaintiff discriminates 
against it in favor of any other class of property and deprives it of its property 
without due process of law or denies to it the equal protection of the laws. 

XI. 

That it is true, as alleged in the eleventh paragraph, that the Constitution of 
North Carolina requires that all taxation shall be by a uniform rule, but they 
deny that the appraisement and valuation of the plaintiff's property was at its 
full value, or that the property of the citizens of the State was appraised at 
less than its full value. They allege, upon information and belief, that the 
property of the citizens of the State was valued as required by law at its full 
value. That there has been no discrimination in the appraisement of the said 
property against the plaintiff, and no violation of the rule of uniformity under 
the Constitution, and no denial of the equal protection of the laws to the plain- 
tiff. 



107 i 



N. C. CORPORATION COMMISSION. 



XII. 

The defendants admit the allegations of the twelfth paragraph of the bill 
of complaint. 

XIII. 

The defendants admit the allegations of the thirteenth paragraph of the bill 
of complaint. 

XIV. 

The defendants answering the fifteenth paragraph of the bill of complaint 
allege that the assessment of the property of the plaintiff is not assessed rela- 
tively higher than the other property in the State, and that the plaintiff has no 
cause to complain of said assessment as being unjust or unequal, and that the 
plaintiff is not injured thereby. 

All of which matters and things these defendants are ready and willing to 
aver, maintain and prove, as this Honorable Court shall direct, and humbly pray 
to be hence dismissed with their honorable costs and charges in this behalf 
most wrongfully incurred. 

(Signed) Simmons, Pou & Ward, 
H. G. Connor, 
C. A. Cook, 
J. C. L. Harris, 
John W. Hinsdale. 

Solicitors for Defendants, 



COMPLAINTS AND DECISIONS. 107j 

Answer, 
the raleigh and gaston raikroad company 

vs. 

the north carolina corporation commission, franklin 
McNeill, chairman, samuel l. rogers and e. c. bedding- 
fied; henry c. brown, clerk; william h. worth, treas- 
urer, and hal w. ayer, auditor. 

The joint and several answers of the North Carolina Corporation Commission, 
Franklin McNeill, Chairman, Samuel L. Rogers and E, C. Beddingfield, Henry 
C. Brown, Clerk; William H. Worth, Treasurer, and Hal W. Ayer, Auditor, to the 
bill of complaint herein. 

These defendants, now and at all times saving and reserving unto themselves 
and each of them all benefit and advantage of exception which can or may be 
had or taken to the errors or uncertainties or other imperfections in said bill of 
complaint, for answer thereto, or unto so much or such parts thereof as these 
defendants are advised is or are material or necessary for them or any of them 
to answer unto, these defendants severally say as follows, answering say: 



The defendants admit the allegations of the first paragraph oi the bill of 
complaint. 

IL 

The defendants admit the allegations of the second paragraph of the bill of 
complaint. 

III. 

The defendants admit the third paragraph thereof to be true except that the 
act alleged to have been ratified on April 1, 1891, was ratified on the 9th day of 
March, 1891, to take effect on April 1, 1891. And they allege that the said act 
of the 5th of March, 1891, was further amended by sees. 44 to 52, inclusive, of an 
act passed on March 9, 1891, chap. 325, Public Laws of 1891, known as the 
Machinery Act, and by similar acts passed in 1893, 1895 and 1897. Thus it was 
also amended by sees. 42 to 50, inclusive, of an act known as the Machinery Act, 
ratified on the 8th day of March, 1899, and also by an act known as the 
Revenue Act, ratified on the 8th day of March, 1899, sees. 60 and 61. It was 
also amended by an act ratified on the 8th day of March, 1899, entitled "An Act 
to authorize the Railroad Commission, the North Carolina Corporation Com- 
mission, or such board as shall succeed to their duties, to assess property which 
has escaped taxation." 

IV. 

The defendants admit the allegations of the fourth paragraph of the bill of 
complaint, except that this suit is one arising under the Constitution of the 
United States, which they deny. 



107^ N. C. CORPORATION COMMISSION. 



The defendants admit and allege that on the 6th day of March, 1899, the Gen- 
eral Assembly repealed the aforesaid Railroad Commission Act, being chap. 320 
of the Laws of 1891, and all acts amendatory thereof, the said repealing act to 
go into effect on the 4th day of April, 1899, and that on the 8th day of March, 
1899, in sec. 42 of the act to provide for the assessment of property and the col- 
lection of taxes, commonly called the "Machinery Act," it is provided as alleged 
in paragraph five of the bill of complaint. The defendants further allege that 
on the 6th day of March, 1899, the General Assembly of North Carolina enacted 
and ratified an act to establish the North Carolina Corporation Commission, the 
23rd subsection of sec. 2 of which provided that the said Corporation Commis- 
sion is hereby empowered and directed to perform all the duties and exercise all 
the powers imposed or conferred by chap. 320 of the Public Laws of 1891, and 
the acts amendatory the, etc.," including all of the above-mentioned amendatory 
acts, and that "this act went into effect on April 5, 1899." 

5 1-2. The defendants admit the allegations of the fifth and a half paragraph 
of the bill of complaint. 

VI. 

That the sixth paragraph thereof raises a question of law, and the defendants 
allege that the Railroad Commission is not preserved as a board of assessors, 
but that the Corporation has succeeded to all their powers, including the power 
to assess for taxation the property of plaintiff and other railroad companies. 

VII. 

The defendants admit the allegations of the seventh paragraph of the bill of 
complaint. 

VIII. 

The defendants admit and allege that the defendants McNeill, Beddingfield 
and Rogers, acting as the North Carolina Corporation Commission, under thv^. 
authority of the several acts of the Legislature hereinbefore set forth, revised, 
appraised and assessed the values of all the railroad property in North Carolina, 
and have assessed the property of the plaintiffs, other than depots, section 
houses, water tanks, shops, lots, etc., rolling stock and equipments, at the sum 
named in said paragraph. 

IX. 

That it is true that all property in the State other than railroad property, 
with few exceptions, is assessed by the local boards of assessors in each township 
with a power of equalization and revision lodged in the Boards of County Com- 
missioners of the respective counties, but it is not true that there has grown 
up before these local boards an almost immemorial and well-recognized custom 
to assess for taxation all property other than railroad property and especially 
farming lands at less than its actual value, or that said value for taxes is fixed 
at from fifty to sixty per cent. Nor is it true that said property is assessed 
designedly at such under-values by said local and county boards, or that such 
method generally prevails throughout the State. On the contrary, defendants 
allege that no such custom or rule of under-valuation exists in this State. And 



COMPLAINTS AND DECISIONS. 107^ 

they allege, upon Information and belief, that property other than railroad 
property is assessed by local boards of assessors in each township at approxi- 
mately its true value in money, as the law requires it should be. 

X. 

That the tenth article thereof is not true, and they allege that in valuing the 
plaintiff's property they endeavored to be fair and liberal in making their said 
assessment, and to fix the same upon a consideration of all the facts and cir- 
cumstances which it is proper for them to consider in arriving at a basis of 
fair valuation, and which they are directed to consider by law, and with due 
reference and regard to all the facts and circumstances known to them concern- 
ing the methods and standards which prevail in valuing property for taxation, 
and in compliance with the law requiring them to ascertain and fix the value 
of railroad property on a given day, to-wit: the 1st day of June, a time of the 
year when property generally brings its lowest value. And they honestly and to 
the best of their ability sought, in making said valuations, to be fair and just to 
the plaintiff and public, and to fix a valuation that would impose upon it only 
its fair proportion of the burden of taxation. They deny utterly that the valua- 
tion so made discriminates against the plaintiff in favor of any other species 
of property. On the contrary, the investigations which they have made and 
the facts which have been disclosed in this suit and other suits which have been 
brought by railroad companies against the defendants as to the methods and 
bases of valuation of railroad property existing in other States and approved 
by the courts of last resort, and as to the actual value of plaintiff's property, 
convince them, and they so allege, that the property of the plaintiff is assessed 
at a lower rate than that at which the other property of the State than that of 
railroads is valued. That they verily believe that the property of the plaintiff 
could be readily sold in open market for much more than the sum at which it 
is assessed. That in assessing the rolling stock and other tangible personal 
property of the plaintiff, they adopted thQ valuations placed thereon by the 
plaintiff, which they believe was less than their true value. That it is not true 
that the assessment made by them against the plaintiff discriminates against it 
in favor of any other class of property and deprives it of its property without due 
process of law or denies to it the equal protection of the laws. 

XL 

That it is true that the laws of North Carolina classify different species of 
property for taxation, but it is not true that the plaintiff's property is required 
to be assessed by a different method prescribed for the assessment of the prop- 
erty of other corporations than railroads in any way discriminates against 
the railroads or violates the principle of uniformity contained in the Constitu- 
tion. That it is true under the laws of this State lands are assessed every four 
years, but it is not true that improvements on land are only assessed once in 
four years. On the contrary, the improvements upon land are assessed annually. 
That it is true that the property of railroads is required to be assessed annually, 
and it is true that sec. 60 of the Revenue Laws directs the Commission in assess- 
in railroad property to consider the value of the franchise, the gross earnings 
and net income of each road. But it is not true that said requirement as to the 



107 m N. C. CORPORATION COMMISSION. 

time for the assessment of railroad property and property other than railroad 
property is a discrimination against said railroads and unlawful. Nor is it true 
that in assessing other property than railroad, the assessors are not required 
by law to consider the income-producing capacity of said property, and if a 
corporation, its franchise. But on the contrary, in the assessment of all prop- 
erty, the assessors are required by law to consider every element of value, and 
in the assessment of corporations, to value their stock separately from their 
tangible property, thus including the franchise and every other element of 
value. That it is not true that the laws of North Carolina prescribing different 
methods for the assessment of different species of property was intended to 
cause railroad property or any other class of property to be assessed at its full 
value while some other species of property was required to be assessed at less 
than its full value, or was by custom of any assessing authority assessed at less 
than its true value. Nor is it true that the method provided by law for the 
assessment of railroad property, honestly applied, in fact results in taxing rail- 
road property unfairly, unjustly and wrongfully, or in violation of any provi- 
sions of the Constitution of North Carolina or of the United States. And they 
allege that the laws of North Carolina require all property without regard to 
the method of assessment to be assessed at its true value. 

XII. 

The defendants admit the allegations of the twelfth paragraph of the bill of 
complaint. 

XIII. 

The defendants admit that the facts set out in the thirteenth paragraph are 
true, except so much thereof as alleges that "unless this action of defendants is 
restrained, the plaintiff will be put to a multiplicity of actions and harrassing 
litigation" which is denied, and they allege that the plaintiff has no just cause 
of complaint in the premises. 

XIV. 

That it is true, as alleged in the fourteenth paragraph of the bill of complaint, 
that the valuation of plaintiff's property has been increased, but said increase 
has not been unjustified at any time. It is not true that plaintiff's property 
is assessed too high when considered in connection with the valuation of other 
property in this State, nor that it has been wrongfully discriminated against in 
making said valuation in favor of any other class of property. Nor is it true 
that the assessment of other property has remained practically the same. But 
they allege that there has been since the last assessment a substantial increase 
in the assessed value of property other than railroad property, as well as of 
railroad property. 

XV. 

That it is not true that the valuation of railroad property in North Carolina 
is out of proportion to valuation of other property in the State.That with ref- 
erence to the allegation that the farming lands of the State comprising 38,000,000 
acres were assessed at $110,000,000, with a yielding capacity of from $50,000,000 



COMPLAINTS AND DECISIONS 107 71 

to $60,000,000, while the property of railroads is assessed at $44,000,000, they 
respectfully show to the Court that the gross earnings of the railroads in North 
Carolina for the year ending June the 30th, 1898, aggregated $11,542,518, while 
the net earnings of said railroads for the same period aggregated $4,147,968, or 
more than one-third of the gross earnings. The net income for the year ending 
June 30, 1899, is greater in proportion to the gross income than for the year 
ending June 30, 1898. It" is submitted that when the cost of fertilizers, tools, 
farming implements, etc., the immense number of persons employed annually 
in earning the estimated yield of farm lands are taken into consideration, that 
the gross income from said lands will show that after allowing these deductions 
and fair wages to those engaged as laborers, directly and indirectly, in farming, 
there will be very little left to represent the income of the capital invested in 
the lands themselves. 

All of which matters and things these defendants are ready and willing to 
aver, maintain and prove, as this Honorable Court shall direct, and humbly pray 
to be hence dismissed with their reasonable costs and charges in this behalf most 
wrongfully incurred. 

H. G. Connor, 
Simmons, Pou & Ward, 
C. A. Cook, 
J. C. L. Harris, 
John W. Hinsdale. 
Solicitors for Defendants. 



108 N. C. CORPORATION COMMISSION. 

Affidavit. 

Franklin McNeill, E. C. Beddingfield and Samuel L, Rogers, being duly sworn, 
depose and say each for himself: 

That he is a member of the defendant, the North Carolina Corporation Com- 
mission. 

That the laws of North Carolina invest them as such Corporation Commission 
with the power, and impose upon them the duty, of revising and assessing for 
taxation all the property of railroads and telegraph companies in North Car- 
olina, 

That in pursuance of the powers and duties imposed upon them as aforesaid 
they did, during the month of June, 1899, proceed in the manner required by law 
to assess the property of the plaintiff and the other railroads of the State, 
including the railroads that have intsituted actions similar to the above-entitled 
action against the Corporation Commission and others, and which are now 
pending in this court, and the property of the Western Union Telegraph Com- 
pany, which has also instituted a similar action against said Corporation Com- 
mission and others; and as such Corporation Commission they fixed the value of 
said railroads and telegraph companies, including the plaintiffs, at the sums 
named in the several bills filed by said railroad and telegraph companies, 
respectively. 

That in making said assessment they deny that they acted in any particular 
in excess of the powers conferred upon them by the laws of North Carolina as 
such Corporation Commission and in violation of the rights of the plaintiff or 
any of the said complaining railroads or the said telegraph companies, or that 
the assessments made by them of the property of the plaintiff, or of any of said 
complaining railroads or telegraph companies, or that the assessments made by 
them of the property of the plaintiff, or of any of said complaining railroads 
or telegraph companies aforesaid, was in excess of its true value, or at a higher 
rate than the individual property of the State is assessed for like purposes. 

That it is not true, as alleged by the plaintiff and the other complaining rail- 
roads and telegraph companies, that there has grown up in North Carolina 
a well-recognized and established rule and system to assess for taxation all 
property other than railroad property at from fifty per cent to -sixty per cent 
of its true value in money, or at less than its true value in money. Nor is it 
true that property in North Carolina other than railroad property is systemati- 
cally, intentionally, designedly and arbitrarily assessed at such undervalues by 
the local county boards of assessors, nor that any rule of intentional under- 
valuation prevails generally throughout the State. 

That it is not true that any such rule or system of reduction or undervalua- 
tion was applied in the assessment of individual property for taxation under 
the act of the Legislature of 1899, made during the month of June. 

That they are informed and believe that as a whole the individual property of 
the State was honestly assessed by the local board of assessors in the several 
counties of the State, as required by law, at approximately its true value in 
monej^ on the 1st day of June, without any purpose or intent to discriminate 
against any class of property, or without any purpose of reducing the propor- 



COMPLAINTS AND DECISIONS. 109 

tionate burdens of the expenses of the State Government which each particular 
county would have to bear. 

That they deny that it was the purpose or intent of the Legislature of North 
Carolina of 1899, in providing and prescribing methods for the assessment of 
railroad property and other classes of property, to encourage or procure railroad 
property to be assessed at a greater relative value than other property of the 
State, or to impose upon railroad property of the State more than its fair pro- 
portion of the burdens of taxation. 

That it is not true that an honest application of the different methods pre- 
scribed by said Legislature for assessing different kinds of property, or that 
the method applied by the Corporation Commission in valuing the railroad prop- 
erty of the State does in fact result in taxing railroad property partially, 
unfairly and unjustly, ard in violation of any principle of the Constitution and 
laws either of North Carolina or the United States. On the contrary, they sub- 
mit that an examination of the several acts of said Legislature' with reference 
to the appraisement and valuation of all kinds of property, both private and 
corporate, will show that it was the purpose of said Legislature to secure a fair, 
just and equal valuation for taxation of all classes and kinds of property 
according to its true value in money. 

In confirmation of this statement, they not only call attention of the Court to 
the provisions of said several acts of said Legislature, requiring assessors of 
both private and corporate property to consider all facts and circumstances 
which might aid them in arriving at the true money value of property, but they 
call the attention of the Court to the stringent oaths prescribed by said Legis- 
lature for local assessors, both at tne time they enter upon the discharge of their 
duties and when they file their final assessment with the appropriate officer, 
as well as the act of the said Legislature, directing the said Corporation Com- 
mission to so assess railroad property as to require it to bear its share of the 
burdens of taxation. And they submit to the Court that it is apparent from 
these several provisions that it was the purpose and intent of the Legislature 
to secure an equal and uniform valuation of all kinds of property upon the 
basis of its true value. 

In refutation of the suggestion made by the plaintiffs and the other complain- 
ing roads aforesaid, that the Legislature and executive branches of the govern- 
ment, as well as the general public, well know of an established rule of reduction 
in the valuation of individual property, and well know that railroad property 
was valued in excess of its actual value, they call the attention of the Court to 
the act of the Legislature aforesaid, providing for the revision and re-assessment 
of railroad property, in which the Legislature, inferentially at least, expressed 
the opinion of that body that railroad property, as then assessed, did not bear 
its fair proportion of the burdens of taxation, and directed the Corporation 
Commission to so increase such assessments, where such increase was justified, 
as would make each part and parcel of railroad property in the State bear its 
fair proportion of the burdens of taxation. And they say that this expression of 
opinion and direction on the part of the Legislature was not a result of any 
purpose or design on the part of that body to cause the railroad property to be 



110 N. C. CORPORATION COMMISSION 

assessed relatively higher than other property, but was an expression of an 
opinion which prevailed generally among the people that railroad property was 
not valued relatively as high as the other property of the State. 

That it is true that they, as said Corporation Commission, increased the 
assessed valuation of the property of the plaintiff and of some of the other com- 
plaining railroads and the telegraph company. But it is also true, as they are 
informed and believe, that there has been a substantial increase of the assessment 
of the individual property in the State. In some sections this increase of individ- 
ual property has been very marked, and with slight local exceptions has been 
general throughout the State. 

It is true that the ratio of increase of railroad property has been greater than 
that of individual property. But it is also true, as they verily believe, from the 
.best information they have been able to obtain, that while individual property 
was assessed at its full value for the previous year, that railroad property of the 
State was assessed before the said increase far below its value. 

It is also true that while the increase in the income-bearing capacity and net 
earnings of railroads has been rapid during the last eighteen months, there has 
been but slight, if any, increase in the income-bearing capacity and on net 
receipts of a large proportion of individual property, especially farming property. 
Indeed, during tne last eight or ten years there has been a heavy fall in the price 
of the staple products of the farms of the State, such as corn, cotton, tobacco, 
etc. But during all the years of this depreciation in farm products the valua- 
tions of farm property for taxation have not, as a whole, been reduced. That 
the increase, both in the net income and market value of railroad stocks and 
bonds, have been rapid and pronounced during the past twelve or eighteen 
months, as will be shown by exhibit hereto attached, marked "A", and made a 
part of this affidavit. 

That it is not true that the valuation placed upon the property of the plaintiff 
and the other complaining railroads and the said telegraph company by the 
Corporation Commission in their assessment made in June, 1899, is in excess of 
the true value of said properties respectively m money; nor that said valuations 
were made with a knowledge of any rule of reduction or undervaluation of the 
individual property of the State; nor that the said valuation is at a higher rate 
than the valuation of other property of the State. 

That in fixing the assessment of the property of the plaintiff and the other 
complaining railroads and the said telegraph company, they desired and 
endeavored to be fair and liberal, and to resolve all doubts in their favor, and 
gave them the benefit of every fact and circumstance which, in their opinion, 
was reasonably calculated to impair the money value of the said properties. 

That valued upon the basis of the funded debt and capital stock of the said 
roads and telegraph company, the valuations of the property of the said roads 
and telegraph company would have been much higher than that placed upon 
them, respectively. 

That valued upon the basis of the net income of said railroads and telegraph 
company for the fiscal year ending June, 1899, the valuation of the plaintiff's 
property in North Carolina, and that of many of the other complaining railroads 
and the said telegraph company, would have been much higher than the valua- 
tion placed upon it, respectively. 



COMPLAINTS AND DECISIONS. Ill 

That valued upon the basis of the cost of construction, with a low valuation 
of their intangible property (based upon the income or market value of bonded 
debt and capital stock), the valuation of the plaintiff and that of the other 
complaining roads would have oeen much higher. 

That a valuation of the plaintiff's property in this State on the basis of the 
number of miles of its road in this State, in proportion to the total mileage in 
the country at large (ascertaining ihe value of its entire complaint as a unit 
upon the basis of the value of its bonded indebtedness and capital stock), would 
have been much higher than the valuation placed upon it. 

In confirmation of all of which they respectively submit to the Court the data, 
memoranda and calculations uaken from the report of the several railroads to 
the Corporation Commission hereto annexed, marked "Exhibit Nos. 1 to 27", 
inclusive, which is hereby referred to and made a part of this affidavit. 

That in valuing the plaintiff's property and that of the other complaining rail- 
roads, they did not adopt separately or independently either one of the afore- 
said tests, which would have resulted in a much higher assessment of its prop- 
erty than that actually made, as their guide or criterion, but they endeavored to 
be fair and liberal to the said railroads in their assessment, and to fix the same 
upon consideration of all the facts and circumstances which it was proper for 
them to consider in arriving at a basis of fair valuation, and which they were 
directed to consider by law, and with due reference and regard to all the facts 
and circumstances known to them, concerning the methods and standards which 
prevailed in valuing property for taxation, and in compliance with the law 
requiring them to ascertain and fix the value of railroad property on a given 
day, to-wit: The first day of June, a time of the year when property generally 
brings its lowest value. And they honestly and to the best of their ability sought 
in making said valuation to be fair and just to the railroads and the public, and 
to fix a valuation that would impose upon them only their fair proportion of the 
burdens of taxation. 

They deny utterly that the valuations so made discriminate against such 
complainants or any of them in favor of any other class or species of property. 
On the contrary, the investigations which they have made, and the facts which 
have been disclosed by reason of the above-entitled action and the other said 
actions against the Corporation Commission and others, as to the methods and 
basis of valuations of railroad property, competent in other States and approved 
by the courts of last resort, have led them to greatly fear that the properties 
of said railroads and said telegraph company, as a whole, are still assessed upon 
a lower rate than that at which the other property of the State is valued. 

That they verily believe that the property of the plaintiff, and that of the 
other complaining roads, and that of the telegraph company, could be readily sold 
in open market for much more than the sums, respectively, at which they have 
assessed them. 

That in assessing the rolling stock and the other tangible personal property 
of the plaintiff and the aforesaid complaining railroads, they adopted the val- 
uation placed thereon by the plaintiff and the other said railroads, respectively. 

That they hereto attach the statement made from the reports of the said rail- 
road companies, respectively, to the Corporation Commission, purporting to be 



112 N. C. CORPORATION COMMISSION. 

true statements of the value of the articles of rolling stock therein mentioned, 
marked "Exhibit C", and made a part of this affidavit, showing the valuations 
placed as aforesaid by the plaintiff and the other roads mentioned in said state- 
ment on that part of their rolling stock represented by locomotives, passenger, 
freight and box cars. 

That they are informed and believe that new locomotives or engines of the 
class used by the plaintiff and the Wilmington and Weldon Railroad, and the 
Raleigh and Gaston Railroad Company, Seaboard and Roanoke Railroad Com- 
pany, and some of the other roads on their main lines cost, when new, between 
$10,000 and $15,000 each, and that box cars of the class so used cost, when new, 
between $400 and $500, and that flat cars so used cost, wnen new, about two-thirds 
as much as box cars, and that first-class passenger cars, such as are so used, 
cost, when new, between $6,000 and $8,000 each. 

That they are informed and believe that railroads of the class of the plain- 
tiff, and many of the other complaining railroads, maintain their rolling stock at 
all times at a high standard of repair and efficiency; and they, therefore, assert 
with much confidence that the said railroads have no cause to complain of the 
valuation made by themselves upon their rolling stock, and that the same is at 
a rate at least as low as that at which the personal property of the private cit- 
izens of the State, who likewise generally assess their personal property, is val- 
ued for taxation. And they verily believe that the same is at a less rate than 
that at which individual personal property is assessed. 

That with reference to the allegations in the bill of some of the complaining 
railroads aforesaid, that the farming lands of the State, comprising 28,000,000 
acres, were assesed at $110,000,000, with a yielding capacity of from $50,000,000 
to $60,000,000, while the property of railroads is assessed at $44,000,000, they 
respectfully show to the Court that the gross earnings of the railroads in North 
Carolira for the year ending June 30, 1898, aggregated $11,542,318, while the 
net earnings of said railroads for the same period aggregated $4,147,968, or more 
than one-third of the gross earnings. 

That it is submitted that when you take into consideration the cost of fer- 
tilizer, team, farming implements, etc., the immense number of persons employed 
annually in earning the estimated yield of farm lands, that the gross income 
from said lands will show that atter allowing these deductions and fair wages 
to those engaged as laborers directly and indirectly in farming, that there will 
be very little left to represent the income of the capital invested in the lands 
themselves. 

That as pertinent to the question of the increase in the value of railroad 
property in North Carolina since the assessment for taxation in 1898, they 
respectfully show to the Court, as they are informed and believe, that the cap- 
ital stock of the Raleigh and Augusta Air Line Railroad sold in open market in 
the year 1898 at l6 cents in the dollar; that said stock is now worth in open 
market 50 cents in the dollar. That the capital stock of the Raleigh and Gas- 
ton Railroad Company sold in open market in 1898 at from 30 cents to 37 cents in 
the dollar; that it is now worth 80 cents in the dollar; that the Seaboard and 
Roanoke Company's stock from market quotations shows $1.90 bid for preferred 
stock and $2.25 asKed. January, 1899, the common stock of the last-named rail- 



COMPLAINTS AND DECISIONS, ] 13 

road company was quoted at $1.25; January 7, 1899, common stock was quoted 
at $2. North Carolina Railroad stock in 1898 sold in open market at $1.15; it 
is now worth in open market rrom $1.55 to $1.60. That the stock of the Atlanta 
and Charlotte Railroad was worth in open market in 1898, $1.10; it is now 
worth in open market $1.18. That the preferred stock of the Southern Railway 
was worth in 1898, in open market, 35 cents in the dollar; it is now worth in 
open market 55 cents in the dollar. That the common stock of the Southern 
Railway was worth in 1898, in open market, 8 cents in the dollar; it is now 
worth 13 cents in the dollar. 

As tending to show the value of the property of the Southern Railway, the 
basis of its funded indebtedness and capital stock, upon a calculation based upon 
its miles of road in North Carolina as compared with its total mileage, they 
respectfully show to the Court: 

That as shown from its reports for the year 1899, its funded 

debt amounts to $103,932,300 

That its common stock outstanding is 120,000,000 

Its preferred stock outstanding is 60,000,000 

Outstanding securities of lease-hold estates, upon which 

the Southern Railway pays interest in form of rentals. . 21,508,000 

Equipment notes 239,991 

Certificates of indebtnedness 2,950,000 

Mortgages on real estate 58,000 

Total value of all lines of Southern Railway on stock and 
bond basis, estimated preferred stock at 55 cents on 
the dollar, and common stock at 15 cents in the dollar. . 128,688,291 

•North Carolina's proportion thereof 36,388,136 

The total assessment of the Southern for taxation for the 

year beginning June 30, 1899, is only 15,270,813 

This calculation is made upon the basis of a total mileage in the country at 
large, and a total mileage in North Carolina, of 1,193 miles. 

The assessment made in June, 1899, upon the North Carolina Midland and the 
State University Road is tne same as that made in 1898. That after they had 
assessed for taxation the property of the plaintifE and the other complaining 
roads and the said telegraph company, they caused notice to be served upon each 
of them to appear before the Railroad Commission and show cause, if any they 
had, why said assessment was not just, equal, fair and as required by law. 

That in pursuance of said notice on the day fixed therein, representatives of the 
plaintiff and all of the said complaining railroads and the said telegraph com- 
pany, appeared before them, sitting as the North Carolina Corporation Com- 
mission, and they gave to each of them full opportunity to be heard and to 
introduce evidence, and to show such cause as they had why said assessment 
should not stand as made. And after hearing such evidence and arguments as 
was respectively submitted by the said roads and telegraph company, they 
reduced the valuation placed upon the Atlantic and Yadkin Railroad, and 
declined to reduce the assessments made against the other said roads and tel- 
egraph company. 



114 N. C. CORPORATION COMMISSION. 

That neither the plaintiff nor any of the said complaining railroads nor the 
telegraph company have applied for any writ or writs of certiorari for the 
purpose of obtaining a review of the assessment so made by them as the said 
Corporation Commission. 

Franklin McNeill. 

E, C. Beddingfield. 

S. L. Rogers. 

Sworn to and suoscribed before me, this 9th day of September, 1899. 

W. M. Russ, 
Clerk Superior Court and 

Ex-Officio Notary Public. 



Aefidavits of H. W. Ayer and W. H. Worth. 

Hal W. Ayer, being duly sworn, and William H. Worth being duly affirmed, 
say each for himself, that Hal W. Ayer is the Auditor, and William H, Worth 
is the Treasurer of the State of North Carolina, and are defendants in this suit. 

That the defendant Corporation Commission, being charged with the duty of 
assessing for taxation all the property of railroads and telegraph companies in 
North Carolina, proceeded during the month of June, 1899, to assess said prop- 
erty; that he has been informed of such assessments as have been made by the 
Corporation Commission, and that he is satisfied that in no case did the said 
Commission overvalue said property. On the contrary, taking into consideration 
the wonderful prosperity of each of the complaining railroads, of their large 
profit-producing capacity, of their steady and persistent improvement year by 
year, and the large and increasing value of their stocks and bonds, he is of the 
opinion that the said Commission has failed to assess said properties at even 
two-thirds of their real value. 

That it is not true as alleged by the plaintiff and the other complaining rail- 
roads and telegraph company, that there has grown up in North Carolina a 
well-recognized and established rule and system to assess for taxation all 
property other than railroad property at from 50 per cent to 60 per cent of its 
true value in money, or at less than its true value in money, as established by a 
sale at auction for cash. Nor is it true that property in North Carolina other 
than railroad property is systematically, intentionally, designedly and arbitrarily 
assessed at such undervalues by the local county boards of assessors, nor that 
any rule of intentional such undervaluation prevails generally throughout the 
State. 

That it is not true that any such rule or system of such reduction or under- 
valuation was applied in the assessment of individual property for taxation 
under the act of the Legislature of 1899, made during the month of June. 

That he is informed and believes that as a whole the individual property of 
the State was honestly assessed by the local boards of assessors in the several 
counties of the State, as required by law, on the 1st day of June, without any 
purpose or intent to discriminate against any class of property. 

That it is true that the said Corporation Commission increased the assessed 



COMPLAINTS AND DECISIONS. 115 

valuation of the property of the plaintiff and some of the other complaining rail- 
roads and telegraph company. But it is also true, as he is informed and believes, 
that there has been a substantial increase of the assessment of the individual 
property in the State. In some sections this increase of individual property has 
been very marked, and with slight local exceptions has been general throughout 
the State. 

That from the best information he has been able to obtain, the railroad 
properties of the State were assessed before the said increase at far below their 
value, and that it was necessary to make said increase in order to place upon 
^the railroads their approximately just burden of taxation. 

It is also true that while the increase in the income-bearing capacity and net 
earnings of railroads has been rapid during the last eighteen months, there has 
been but slight, if any, increase in the income-bearing capacity and in the net 
receipts of a large proportion of individual property, especially farming prop- 
erty. Indeed, during the last eight or ten years there has been a heavy fall in 
the price of the staple products of the farms of the State, such as corn, cotton, 
tobacco, etc. That the increase, both in the net income and market value of 
railroad stocks and bonds, have been rapid and pronounced during the past 
twelve or eighteen months. 

Affiants say that they are satisfied that the valuations placed upon the prop- 
erty of the plaintiff and the other complaining railroads and said telegraph com- 
pany by the Corporation Commission in their assessment made in June, 1899, is 
not in excess of the true value of said properties, respectively, in money; nor 
that the said valuation is at a higher rate than the valuation of other property 
in the State. On the contrary, affiants do not hesitate to say that after investi- 
gating the subject they are of the opinion that the properties of the complaining 
railroads have not been assessed at as much as two-thirds of what they would 
sell for, or what they are actually worth. 

That valued upon the basis of the funded debt and capital stock of the said 
roads and telegraph company, the valuations of the property of the said roads 
and telegraph companies would have been much higher than that placed upon 
them, respectively. 

That valued upon the basis of the net income of said railroads for the fiscal 
year ending June, 1899, the valuation of the plaintiff's property in North Caro- 
lina, and that of many of the other complaining railroads, should have been 
much higher than the valuation placed upon it, respectively. 

That valued upon the basis of the cost of construction, with a low valuation 
of their intangible property (based upon the income or market value of bonded 
debt and capital stock), the valuation of plaintiff's property, and that of th? 
other complaining roads, should have been much higher. 

That a valuation of the plaintiff's property in this State on the basis of the 
number of miles of its road in this State, in proportion to its total mileage in the 
country at large (ascertaining the value of its entire plant as a unit upon the 
basis of the value of its bonded indebtedness and capital stock), should have 
been much higher than the valuation placed upon it. 

That in view of the tremendous increase in value of steel and iron and of all 
kinds of supplies that enter into the construction of railroads, these affiants find 



116 N C. CORPORATION COMMISSION. 

further justification in the increase made by the Commission. As an illustra- 
tion of this, the market value of steel rails was $18 per ton on September 7, 
1898, and such market value has increased to $32 a ton on August 31, 1899. 

With reference to the allegations in the bill of some of the complaining rail- 
roads aforesaid, that the farming lands of the State, comprising 28,000,000 
acres, were assessed at $110,000,000, with a yielding capacity from $50,000,000 
to $60,000,000, while the property of railroads is assessed at $44,000,000, he 
respectfully shows to the Court that with the present prices of farm products 
in North Carolina, farming is not only unprofitable, but it is a losing business, 
and that a very large number of the farmers of the State are growing poorer 
every year, while the railroad companies are in receipt of net incomes from their 
operations which enable them to pay interest on their immense bonded debt and 
to declare dividends upon their stock. So unprofitable has the occupation of 
farming been in North Carolina that a large majority of the farming lands of 
the State will not bring one-half of what they would fifteen or twenty years 
ago, while the properties of many of the railroad companies have doubled or 
tripled in value. 

Hal W. Ayer. 

W. H. Worth. 

Subscribed and sworn before me, this 9th day of September, 1899. 

R. B. Lawrence, 
(Seal.) Notary Public. 

Subscribed and affirmed before me, this 9th day of September, 1899. 

R. B. LxVWRENCE, • 

Notary Public. 



Affidamt of Henry C. Brown. 

Henry C. Brown, being duly sworn, says that he is Clerk of the North Caro- 
lina Corporation Commission. That he was the Clerk of the North Carolina 
Railroad Commission from its organization until it was succeeded by the North 
Carolina Corporation Commission. That the several railroad companies operat- 
ing railroads in this State have from the j^ear 1891 to the present time annually 
filed with the Railroad Commission sworn reports, which are now on file in 
the office of the said Corporation Commission. That the statements marked 
Exhibits 1 to 29 inclusive, hereto annexed, have been compiled from the said 
reports, respectively, and that they are true according to the said reports, as 
affiant verily believes, in so far as they set forth the valuations for taxation 
of the properties of the railroad companies named in them, the gross earnings, 
operating expenses and the net earnings for the several years mentioned, the 
income from operation and from other sources, the amount of capital stock 
issued by the said companies, respectively, the cost of construction and equip- 
ment, the amount of stocks and bonds owned by the said companies,respectively, 
the total mileage, the mileage within the State of North Carolina, and the pro 
rata of said mileage in this State, and the amounts of surplus and deficits as set 
forth. That wherever in said exhibits the gross earnings, operating expenses 



COMPLAINTS AND DECISIONS 117 

and net earnings are given to March 31, 1899, it is for twelve months ending 
March 31, 1899. Affiant further says that he has a general acquaintance with 
the values of railroad stocks and bonds which he has stated in the said exhibits, 
and that from his knowledge as to some stocks and Donds, and his information 
as to others, he believes that they are correctly stated. That the other state- 
ments of facts in the said statements are true according to the several reports of 
the said several companies on file in the office of the Corporation Commission, 
Affiant says that he has had a great deal of experience in reference to the assess- 
ment for taxation of railroad companies, having been connected with the said 
Railroad Commission for many years, and having assisted in the investigations 
and calculations of the Board, and that he considers himself an expert as an 
accountant. That the calculations which he has made in the several exhibits are 
correct, as he verily believes. That as he is informed and believes, the Raleigh 
and Augusta 6 per cent bonds are worth on the market 113; Atlanta and Char- 
lotte Air Line stock is worth 127; Western North Carolina bonds, 116; Atlanta 
and Charlotte Air Line bonds are worth 118 1-2. Affiant further says that 
Exhibit C, attached to the affidavit of Franklin McNeill, E. C. Beddingfield and 
Samuel L. Rogers, shows the number and character of the locomotives and cars 
returned for taxation before the Corporation Commission by the Southern 
Railway Company, the Wilmington and Weldon Railroad Company, the Western 
North Carolina Railroad Company, the Carolina Central Railroad Company, the 
Raleigh and Gaston Railroad Company, the Raleigh and Augusta Railroad Com- 
pany. That these are all first-class railroads and, as affiant is informed and 
believes, own first-class equipments. That some of the locomotives used upon the 
said lines, as he is informed and believes, cost when new from ten to fourteen 
thousand dollars each; box cars from three hundred and fifty to five hundred 
and fifty dollars; flat cars about two-thirds the cost of box cars, and first-class 
passenger cars from six to eight thousand dollars. That according to the rule 
of the Master Car Builders Association, to which all of these railroads have 
subscribed the said railroad companies settle with each other for the deprecia- 
tion of box and flat cars upon the basis of an annual depreciation of 6 per cent, 
and at never less than 40 per cent of their original value. That as affiant is 
informed and believes, the average lifetime of a locomotive is from twenty to 
twenty-five years, of a passenger car from ten to twenty years, and of box and 
flat cars from twelve to fifteen years. That he is informed and believes that 
railroad of the class of the plaintiffs, the Raleigh and Gaston, the Raleigh and 
Augusta, the Wilmington and the Petersburg, the Western North Carolina, the 
Seaboard and Roanoke, and many other of the complaining railroads,maintain 
their rolling stock at all times at a high standard of repair and efficiency. That 
many of the locomotives and cars returned by the said companies for taxation 
are, as affiant is informed and believes, comparatively new, and have suffered but 
little depreciation from use. That the Corporation Commission adopted the 
valuations placed by the said railroads on their rolling stock. That the loco- 
motives on the several railroads were returned by them for taxation at the fol- 
lowing valuations fixed by themselves: 



118 N. C. COKPORATION COMMISSION. 

Southern each $3,500 

Western North Carolina 3,000 

Wilmington and Weldon average valuation 3,000 

Carolina Central average valuation 4,814.73 

Raleigh and Gaston 5,820.82 

The said railroad companies return first-class passenger cars at the following 
average valuation: 

Southern $1,800.00 

Western North Carolina 1,800.00 

Wilmington and Weldon 2,000.00 

Carolina Central 1,977.77 

Raleigh and Gaston 2,263.33 

The said companies value box cars at the following average valuation: 

Southern $175.00 

Western North Carolina 175.00 

Wilmington and Weldon 200.00 

Carolina Central 119.49 

Raleigh and Augusta 92.13 

Raleigh and Gaston 108.41 

The said companies value flat cars at an average valuation as follows: 

Southern $125.00 

Western North Carolina 125.00 

Wilmington and Weldon 150.00 

Carolina Central 126.85 

Raleigh and Augusta 173.84 

Raleigh and Gaston 170.61 

The Mercantile Trust and Deposit Company of Baltimore, as trustee for the 
Raleigh and Gaston, Raleigh and Augusta and Seaboard and Roanoke Railroads, 
lists comparatively new rolling stock, a large portion of which was purchased 
in the last three years, the taxes of which are paid by the said railroad com- 
panies, respectively, as follows: 

First-class locomotives, at $5,000.00 

First-class passenger cars, at 1,400.00 

Box cars, at 90.00 

Flat cars, at 75.00 

The total rolling stock listed as aforesaid by the said Mercantile Trust and 
Deposit Company for the said railroad companies, cost in the aggregate, 
$1,410,000.00. 

And it is listed by the Mercantile Trust and Deposit Company, acting through 
the attorney of the said railroad companies, at an aggregate for North Carolina's 
proportion, at $331,854.00 and is taxed upon that basis by the Corporation Com- 
mission. H. C. Brown. 

Subscribed and sworn before me, this 13th day of September, 1899. 

T. C. H. Dukes, 
(Seal.) Notary Public. 



COMPLAINTS AND DECISIONS. 119 

EXHIBIT 1. 

North Carolina Railroad Company. 

Valuation for the year 1899 $4,694,848.00 

Valuation for the year 1898 3,785,793.00 

Gross earnings from operations for the year ending 

March 31, 1899 $1,883,380.09 

Operating expenses for the year ending March 31, 1899 1,407,124.16 

Income from operations 476,256.73 

Upon a 6 per cent rapittilization the property would be 

worth 7,937,612.00 

Upon a basis of capital stock of $4,000,000.00, which is 

selling at above $].60. the property would be worth 6,400,000.00 

Basis of construction and equipment, it would be 

worth 4,975,627.00 

This company pays $266,000 per annum in addition to the taxes until 1901 ; this 
is 6 1-2 per cent on capital stock and $6,000 for expense of corporation. After 
1901 they are to pay 7 per cent on capital stock, or $280,000, and $6,000 for 
expense of corporation and taxes. 

Net earnings for the year ending June 30, 1898, were. . $419,279.26 

Year ending March 31, 1899, shows an increase of 56,977.00 

1891 

Gross earnings $1,251,495.71 

Operating expenses 780,374.26 

471,121.45 

1892. 

Gross earnings , . . . $1,223,392.37 

Operating expenses 746,953.46 

476,428.91 

1893. 

Gross earnings $1,180,836.56 

Operating expenses 771,347.60 

409,488.96 

1894. 

Gross earnings $1,092,813.56 

Operating expenses 821,276.02 

271,537.54 

1895. 

Gross earnings $1,225,593.66 

Operating expenses 859,181.79 

366,411.87 

1896. 

Gross earnings $1,430,123.50 

Operating expenses 1,062,639.04 

367.484.46 



120 N. C CORPORATION COMMISSION. 

1897. 

Gross earnings $1,592,217.93 

Operating expenses 1,148,772.59 

$443,445.34 

1898. 

Gross earnings $1,688,339.84 

Operating expenses 1,269,060.58 

'■ 419,279.26 

Surplus $999,714.48 

stocks ovv^ned, railway 25,000.00 

1899. 
Gross earnings for twelve months, to March 31, 1899. 1,883,380.89 
Operating expenses 1,407,124.16 

476,256.73 

EXHIBIT 2. 

Atlantic and Yadkin Railroad. 

Valuation for 1899 $2,944,460.83 

Valuation for 1898 2,065,129.00 

Earnings $623,902.00 

Operating expenses 529,838.00 

Net earnings 94,064.00 

Upon 6 per cent capitalization 1,567,733.00 

Capital stock 1,972,900.00 

Funded debt 4,922,700.00 

6,895,600.00 

Construction and equipment 7,334,620.00 

This road was sold at public sale January, 1899, for $3,180,000. 

One-half of it, to-wit, from Sanford to Mount Airy, was sold two months later 
for $1,800,000. 

This railroad was before its sale known as the Cape Fear and Yadkin Valley. 
Its gross earnings from operation, operating expenses and net earnings from 
1891 to 1898 have been as follows: 

1891 
Gross earnings $589,829.65 

Operating expenses 350,371.56 

$239,458.29 

1892. 

Gross earnings from operation $550,552.48 

Operating expenses 353,961.34 

196,591.14 

1893. 
Gross earnings $549,354.70 

Operating expenses 353,909.30 

195,445. 4« 

1894. 

Gross earnings $478,426.84 

Operating expenses 353,239.96 

125,186.88 



COMPLAIiNTS AND DECISIONS. 121 

1895. 
Gross earnings $480,886.52 

Operating expenses 403,463.46 

— $77,423.06 



Gross earnings $553,031.98 

Operating expenses 468,010.33 

85,021.65 

1897. 

Gross earnings $556,929.18 

Operating expenses * 476,098.61 

— 82,830.57 

1898. 

Gross earnings $597,195.21 

Operating expenses 477,091.60 

120,103.61 

EXHIBIT 3. 

Atlanta and Charlotte Air Line. 
Valuation for 1899 $956,410.00 

Valuation for 1898 697,310.00 

Earnings to March 31, 1899 $324,077.99 

Operating expenses 271,850.94 

Net earnings 52,227.05 

Upon 6 per cent capitalization 870,450.00 

Operating expenses on this road are nearly 90 per cent of the earnings. 

Capital stock $272,260.00 

Funded debt 880,861.00 

$1,153,121.00 

The Southern Railway operates this road by virtue of lease — the terms of 
which are that it shall pay interest on debt and 6 per cent on its capital stock. 
Upon the basis of the market value of the stocks and 
bonds of this company, its property. North Caro- 
lina proportion of the capital stock, par $272,260, 

worth 127 $345,544.00 

North Carolina proportion of the funded debt, par 

$880,861, worth 118 1-2 1,043,820.00 

1,389.364.00 

EXHIBIT 4. 

Asheville and Spartanburg Railroad. 
Valuation for 1899 $370,145.00 

Valuation for 1898 342,597.00 

Earnings to March 31, 1899 $150,187.61 

Operating expenses 130,547.18 

Net earnings 19,640.43 

Upon 6 per cent capitalization 327,340.00 

1 9 



122 N. C. CORPORATION COMMISSION. 

Operating expenses over 80 per cent. This is less per cent than A. and C. Air 
Line — more expensive a road to operate. 

Capital stock $329,797.00 

Funded debt 314,092.00 

$643,889.00 

This company pays interest, 4 per cent on its funded debt and taxes, and then 

has a surplus of $56,459.25. This would be equal to 6 per cent capitalization — 
$940,987. North Carolina part of this would be $290,075, and this added to 
funded debt would make $605,079. 

EXHIBIT 5. 

High Point, Randleman, Ashboro and Southern. 

Valuation for 1899 $130,725.00 

Valuation for 1898 112,744.00 

Earnings to March 31, 1899 $58,335.52 

Operating expenses 28,414.37 

Net earnings 29,921.15 

Upon 6 per cent capitalization 498,685.00 

Capital stock 250,000.00 

Funded debt 402,000.00 

652,000.00 

Operated by Southern Railway by virtue of ownership of a majority of its 
capital stock. 

For the year ending June 30, 1898, there was a deficit of $10,460.70, but the 
report of March 31, 1899, shows an increase of earnings over the preceding year 

of $15,231.59. 

EXHIBIT 6. 

State University Railroad. 
Valuation for 1899 $24,999.00 

Valuation for 1898 24,999.00 

Framings to March 31, 1899 $10,529.51 

Ojerating expenses 11,097.59 

C-ficii 568.08 

Capital stock 31,300.00 

This ioad is 10 miles. Assessment for 1899 as for the past eight years. 

EXHIBIT 7. 

Yadkin Railroad. 

Valuation for 1899 $131,925.00 

Valuation lor 1898 119,110.00 

Earnings to March 31, 1899 $46,006.86 

Operating ■^^xpenses 32,558.60 

Net earnings 13,448.26 

Upon 6 per cent capitalization 224,137.00 

Capital stock 625,000.00 

Funded debt 615,000.00 

1.240,000.00 



COMPLAINTS AND DECISIONS. J 23 

The net earnings from operations for the year ending June 30, 1898, were 
$] 41.38. 

EXHIBIT 8. 

North Carolina Midland. 

Valuation for 1899 $145,456.00 

Valuation for 1898 74,626.00 

Earnings to March 31, 1899 $14,714.70 

Operating expenses 47,395.61 

Deficit 32,680.91 

Capital stock 820,000.00 

Bonds 645,000.00 

1,465,000.00 

This road is 53 miles long. The assessment is the same as for the year 1898. 

EXHIBIT 9. 

Atlantic, Tennessee and Ohio. 

Valuation for 1899 " $379,690.00 

Valuation for 1898 335,290.00 

Earnings to March 31, 1899 $79,843.92 

Operating expenses 36,086.08 

Net earnings 43,762.84 

Upon 6 per cent capitalization 729,380.00 

Capital stock 400,000.00 

Funded debt 150,000.00 

550,000.00 

This according to report of 1893. 

EXHIBIT 10. 

Charlotte, Columbia and Augusta. 

Valuation for 1899 $252,850.00 

Valuation for 1898 195,450.00 

Earnings to March "31, 1899 $77,773.88 

Operating expenses 30,729.50 

Net earnings 47,044.38 

Upon 6 per cent capitalization 784,073.00 

Capital stock 149,524.00 

Funded debt 174,000.00 

323,524.00 

Construction and equipment 321,364.00 

From report of 1894. 

EXHIBIT 11. 

Northwestern North Carolina. 
Valuation for 1899 , $939,710.00 

Valuation for 1898 464,615.00 

Earnings to March 31, 1899 $216,066.36 

Operating expenses 114,872.65 

Net earnings 101,193.71 



124 N. C. COKPORATION COMMISSION. 

Upon 6 per cent capitalization ' $1,686,561.00 

Capital stock $1,440,600.00 

Funded debt 1,500,000.00 

2,940,600.00 

From report of 1894. 

EXHIBIT 12. 

Oxford and GlarksviUe Railroad. 

Valuation for 1899 $269,525.00 

Valuation for 1898 256,649.00 

Earnings to March 31, 1899 $69,141.38 

Operating expenses 52,553.70 

Net earnings 16,587.68 

Upon 6 per cent capitalization 276,461.00 

Capital stock 1,000,000.00 

Funded debt " 750,000.00 

1,750,000.00 

From report 1893. 



EXHIBIT ] 



Oxford and Henderson Railroad. 

Valuation for 1899 $69,385.00 

Valuation for 1898 54,096.00 

Earnings to March 31, 1899 $13,795.56 

Operating expenses 13,466.54 

Net earnings 329.02 

Upon 6 per cent capitalization 54,836.00 

Capital stock 325,000.00 

Funded debt 195,000.00 

■ 520,000.00 

From report 1893. 

EXHIBIT 14. 

Piedmont Railroad. 

Valuation for 1899 $1,214,850.00 

Valuation for 1898 852,430.00 

Earnings to March 31, 1899 $592,315.40 

Operating expenses 325,895.91 

Net earnings 266,419.49 

Upon 6 per cent capitalization . . . 4,440,324.00 

Capital stock 1,500,000.00 

Funded debt 1,000,000.00 

2,500,000.00 

From report 1893. 



COMPLAINTS AND DECISIONS. 125 

EXHIBIT 15. 

Statesville and Western Railroad. 

Valuation for 1899 $67,450.00 

Valuation for 1898 48,617.00 

Earnings to March 31, 1899 $12,284.19 

Operating expenses 16,212.58 

Deficit 3,928.39 

Capital stock 500,000.00 

Funded debt 300,000.00 

800,000.00 

From report 1893. 

EXHIBIT 16. 

Western North Carolina Railroad. 

Valuation for 1899 $3,756,050.00 

Valuation for 1898 2,322,885.00 

Earnings to March 31, 1899 $1,169,671.26 

Operating expenses 778,163.32 

Net earnings 391,507.94 

Upon 6 per cent capitalization 6,525,132.00 

Capital stock 8,000,000.00 

Funded debt 7,966,000.00 

15,966,000.00 

From report 1894. 

1891. 

Gross earnings $1,018,043.77 

Operating expenses 679,760.76 



1892. 

Gross earnings $992,218.79 

Operating expenses 629,104.40 

1893. 

Gross earnings $894,229.41 

Operating expenses 607,788.32 

1894. 

Gross earnings $792,062.20 

Operating expenses 560,115,35 



333,760.76 



363,114.39 



286,441.09 



231,946.87 



126 N. C. CORrORATION COMMISSION. 

EXHIBIT 17. 

Wilmington and Weldon Railroad. 

Valuation for 1899 $9,765,620.00 

Valuation for 1898 7,452,309 00 

Gross earnings from operations for year ending June 

30, 1898 $2,200,043.83 

Ending March 31 2,060,366.59 

Operating expenses for year ending June 30, 1898 1,240,450.11 

Ending March 31 1,138,466.82 

Income from operations 959,593.72 921,899.77 

Income from other sources 31,805.75 

Total income 991,399.47 

Upon a 6 per cent capitalization this would give as the 

value of the property in North Carolina 16,523,324.00 

Gross earnings for the year ending March 31, 1899 . . 2,519,851.00 
Operating expenses for the year ending March 31,1899 1,474,151.00 

Income from operation 1,045,700.00 

Upon a 6 per cent capitalization this would give as the 

value of the property in North Carolina 17,428,333.00 

The net earnings for the year ending March 31, 1899, 

show an increase over the year ending March 31, 

1898, of 123,800.23 

Report ending June 30, 1898, shows as follows: 
Capital stock $3,000,000.00 

Funded debt 7,880,000.00 

10,880,000.00 

Upon a stock and bond par value basis it would be 

woirth 10,880,000.00 

A dividend of 8 per cent was paid on capital stock of 3,000,000.00 

A dividen of 7 per cent was paid on certificate of 

indebtedness of 2,500,000.00 

A dividend of 6 per cent was paid on special trust cer- 

tifiate of 380,000.00 

Five per cent interest paid on first mortgage bonds of 3,062,000.00 

Pour per cent interest on bonds of 1,938,000.00 

10,880,000.00 

Placing value of stock at $1.80 would add 2,400,000.00 

Certificate of indebtedness at $1.50 would add 1,250,000.00 

Five per cent bonds at $1,20 would add 612,400.00 

15,142,400.00 



COMPLAINTS AND DECISIONS. 127 

Upon a stock and bonds basis, placing a less value on 
the stock and bonds than they would bring on the 
market to-day, the property would be worth as 
above $15,142,400.00 



Upon a basis of construction and equipment it is worth, 

according to report, June 30, 1898 11,315,657.37 

In addition to paying dividends and interest as above stated, this company had 
a surplus from the operations of this road for the year ending June 30, 1898, of 
$270,229.41, enough to have paid 9 per cent more on the capital stock or an 
equivalent of over 17 per cent on the capital stock. 
In addition to this the general balance sheet for June 

30, 1898, shows a balance of $890,455.94 

A report from this company for the year ending March 

31, 1899, shows the funded debt to be 9,680,000.00 

Capital stock ' 3,000,000.00 

Total 12,680,000.00 

1891. 

Gross earnings $1,535,714.00 

Operating expenses 855,678.00 

680,035.00 

Income from other sources 494,864.00 

1,174,899.00 

1892. 

Gross earnings $1,452,012.28 

Operating expenses 802,884.02 

649,128.26 
Income from other sources 184,914.17 

834,042.43 

Surplus 237,799.36 

1893. 

Gross earnings $1,594,158.27 

Operating expenses 896,656.54 

697,501.73 

1894. 

Gross earnings $1,637,752.05 

Operating expenses 948,526.89 

689,225.16 

1895. 

Gross earnings $1,644,659.93 

Operating expenses 971,553.84 

673,106.09 
Income from other sources 12,703.12 

685,809.21 



128 N. C. CORPORATION COMMISSION. 

1896. 

Gross earnings $1,818,492.24 

Operating expenses 1,087,206.94 

726,285.80 
Income from other sources , . . . 88,880.26 

1897. 

Gross earnings $1,874,813.65 

Operating expenses 1,088,840.98 

785,972.67 
l!:come from other sources 34,225.78 

Surplus 584,050.95 

1898. 

Gross earnings $2,200,043.83 

Operating expenses 1,240,450.11 

959,598.72 
Income from other sources 31,805.75 

Surplus 890,455.94 

1899. 

Gross earnings for year ending March 31, 1899 $2,519,851.00 

Operating expenses for year ending March 31, 1899.. 1,474,151.00 



$784,665.56 



820,198.45 



991,399.47 



1,045,700.00 



EXHIBIT 20. 

Norfolk and Carolina Railroad. 

Valuation for the year 1899 $1,433,324.00 

Valuation for the year 1898 1,221,743.00 

Gross earnings from operations for year ending June 

30, 1898 $686,856.00 

Operating expenses for year ending June 30, 1898, 

entire line 398,635.00 

Income from operations 288,221.00 

Miscellaneous income 10,754.00 

Total income 298,975.00 

Gross earnings from operations for year ending March 

31, 1899 — North Carolina proportion 419,857.00 

Operating expenses for year ending March 31, 1899 

—North Carolina proportion 227,193.00 

Income from operation 192,664.00 



COMPLAINTS AND DECISIONS. 129 

Upon a 6 per cent capitalization this would give as the 

value of the property $4,982,916.00 

North Carolina proportion is 60.27 per cent thereof, 

being 3,003,203.00 

The net increase of earnings over March 31, 1898, for 

the year ending March 31, 1899, for North Carolina 

proportion is 16,064.32 

Report for the year ending June 30, 1899, shows: 

Capital stock $2,500,000.00 

Funded debt 1,720,000.00 

4,220,000.00 

Upon the basis of capital stock and funded debt, it 

would be worth 4,220,000.00 

North Carolira proportion is 60.27 per cent thereof, 

being 2,543,394.00 

Upon basis of construction and equipment it would be 

worth 3,745,090.00 

North Carolina proportion, 60.27 per cent thereof,being 2,257,165.00 

This road paid a dividend of 6 per cent on capital stock and paid 5 per cent 
interest on funded debt, and had a surplus of $77,656 from operations of year 
ending June 30, 1898, and could have paid 8 per cent on its capital stock of 
$2,500,000, as the general balance sheet already showed a surplus of $111,140.44. 

Capital stock is easily worth $1.35, and bonds $1.20; 

this would give a premium of $1,219,000.00 

Add capital stock and bonds 4,220,000.00 



Upon this basis the property would be worth 5,439,000.00 

North Carolina proportion of this is 60.27 par cent, or 3,278,085.00 

1891. 

Gross earnings $281,485.33 

Operating expenses 226,754.48 

54,740.85 

Income from other sources 53.37 

54,794.22 

1892. 

Gross earnings $306, 649. 6Y 

Operating exper.ses 230,847.89 

75,801.78 
Income from other sources 3,974.95 

79,776.7S 

1893. 

Gross earnings $364,027.20 

Operating expenses 280,577.55 

83,449.65 

Income from other sources 1,490.37 

84,940.02 



130 * N. C. CORPORATION COMMISSION. 

1894. 

Gross earnings $357,801.97 

Operating expenses 279,062.20 

78,739.77 
Income from other sources . . . 1,029.00 

1895. 

Gross earnings $392,331.76 

Operating expenses 275,089.70 

117,242.06 
Income from other sources . 1,993.98 



1896. 

Gross earnings $492,411.87 

Operating expenses 805,979.82 

182,432.05 
Income from other sources 1,300.78 



1897. 

Gross earnings $558,051.23 

Operating expenses 352,771.28 

205,282.95 
Income from other sources 1,655.97 



1898. 

Gross earnings $686,856.00 

Operating expenses 398,635.40 

288,220.60 
Income from other sources 10,754.11 



Surplus , 188,797.30 

EXHIBIT 22, 



$79,768.77 



119,236.04 



187.732.83 



206,938.92 



298,974.71 



Petersburg Railroad. 

Valuation for the year 1899 $194,904.00 

Valuation for the year 1898 148,501.00 

Gross earnings from operations for year ending June 

30, 1898, entire line $596,172.00 

Operating expenses for year ending June 30, 1898, 

entire line 295,104.00 

Income from operations 301,068.00 

Income from other sources 13,168.00 

Total income 314,236.00 



COMPLAINTS AND DECISIONS. 131 

Gross earnings from operations for year ending March 

31, 1899, North Carolina proportion $67,156.00 

Operating expenses for year ending March 31, 1899, 

North Carolina proportion 37,392.00 

Income from operation 29,764.00 

Upon a 6 per cent capitalization, this would give as the 

value of the property $5,237,276.00 

North Carolina's proportion is 10.35 per cent, or 542,058.00 

Report ending June 30, 1898, shows as follows: 
Capital stock $1,284,300.00 

Funded debt 1,668.000.00 

2,952,300.00 

North Carolina's proportion is 10.35 per cent thereof, 

being 305,563.00 

The value of the property is upon a stock and bond basis. 

Upon a basis of construction and equipment the prop- 
erty is worth 3,111,504.00 

North Carolina's proportion is 10.35 per cent thereof, 

or 322,040.00 

This road paid 7 per cent dividend on both its common and preferred stock, and 
an average of 5 1-2 per cent on its bonded indebtedness, and had a surplus from 
operations of year ending June 30, 1898, of $113,739, and could have paid a 
dividend on its capital stock of over 15 per cent, as this company has already 
a surplus on general balance sheet of $539,410. 

1891. 

Gross earnings, entire line $527,898.47 

Operating expenses 333,850.41 

194,048.06 
Income from other sources 7,177.50 

$201,225.56 

1892. 

Gross earnings $526,668.52 

Operating expenses 296,607.10 

230,061.42 

Income from other sources 6,003.00 

— 236,064.42 

1893. 

Gross earnings $542,679.89 

Operating expenses 334,024.33 

208,655.56 
Income from other sources 7,065.05 

215,720.61 



132 N. C. CORPORATION COMMISSION. 

1894. 

Gross earnings $503,364.03 

Operating expenses 338,688.05 

164,675.98 
Income from other sources 7,692.85 



1895. 

Gross earnings $507,522.11 

Operating expenses 312,353.00 

195,169.11 
Income from other sources 18,364.95 



1896. 

Gross earnings $584,195.97 

Operating expenses 330,620.08 

253,575.89 
Income from, other sources 7,185.70 

1897. 

Gross earnings $559,291.65 

Operating expenses 298,253.71 

261,037.94 
Income from other sources 8,478.94 

1898. 

Gross earnings $596,172.26 

Operating expenses 295,104.75 

301,067.51 
Income from other sources 13,168.65 

Surplus 539,410.51 

Stocks owned 15,810.38 



$172,368.83 



213,534.06 



260,761.59 



269,516.88 



314,236.16 



EXHIBIT 23. 

Seaboard and Roanoke Railroad. 

Valuation for the year 1899 $502,986.00 

Valuation for the year 1898 393,287.00 

Gross earnings from operations for year ending June 

30, 1898, entire line $869,565.00 

Operating expenses for year ending June 30, 1898 

entire line 539,070.00 

Income from operations 330,495.00 

Income from other sources 114,787.00 

Total income 445,282.00 



COMPLAINTS AND DECISIONS 133 

Gross earnings from operations for year ending Marcli 

31, 1899, entire line $900,140.01 

Operating expenses for year ending March 31, 1899, 

entire line 629,759.77 

Income from operation . 270,380.24 

Upon a 6 per cent capitalization this would give as the 

value of the property $7,421,366.00 

North Carolina's proportion is 24.2 per cent thereof, or 1,795,970.00 

Capital stock 1,388,400.00 

Funded debt 3,190,000.00 

Upon a stock ar.d bond basis it would be worth 4,578,400.00 

T-^orth CarGlir-a,"s proportion is 24.2 per cent thereof, or .1,107,972.00 

Upon a basis of construction and equipment the value 

would be 3,083,070.00 

North Carolina's proportion is 24.2 per cent thereof, or 746,102.00 

This company for the year ending June 30, 1898, paid a dividend of 7 per cent 
on its preferred stock, 5 per cent interest on bonds to the amount of $2,500,000, 
and 6 per cent on miscellaneous obligations of $690,000. After paying this a 
surplus from operations for the year ending June 30, 1898, is shown to the 
amount of $69,077, or enough to have paid a dividend of more than 4 1-2 per cent 
on its common stock of $1,500,000. 

The general balance sheet for the year ending June 30, 1898, shows a surplus 
of $1,603,756. 

The preferred stock is quoted on the market at $1.90 bid, $2.25 asked. 

The mortgage bonds are quoted at $1.10. 
The value of the property on a basis of $2.00 for pre- 
ferred stock and $1.05 for the bonds would be, 

stock and bond basis $4,903,400.00 

North Carolina's proportion is 24.2 per cent thereof, or 1,186,622.00 

Upon a stock and bond basis, taking into account the issue of Georgia, Carolina 
and Northern Railroad Company of $5,360,000, the principal and interest of 
which the Seaboard and Roanoke and the Raleigh and Gaston Railroad Com- 
panies have endorsed and guaranteed, and upon which they are obliged to 
pay the interest each year, the value of the Seaboard and Roanoke is as follows: 

Preferred 7 per cent stock, $244,200, worth $200 $488,400.00 

Common stock, $1,114,200, worth $200 2,228,400.00 

Funded debt, $3,190,000, bearing 5 per cent interest 

worth $1.10 3,509,000.00 

One-half of G. C. and N. bonds, $2,680,000, worth $1.04. . 2,787,200.00 

9,013,000.00 
The North Carolina proportion of which is 24.2 per 

cent thereof, or 2,181,146.00 



134 N. C. CORPORATION COMMISSION 

1891. 

Gross earnings $771,572.09 

Operating expenses 479,944.38 

291,627.71 
Income from other sources 77,146.30 

1892. 

Gross earnings $705,469.40 

Operating expenses 471,706.23 

233,765.26 
Income from other sources 84,890.51 



1893. 

Gross earnings $719,909.82 

Operating expenses 494,297.72 



225,612.10 
Income from other sources 143,772.96 

1894. 

G: OSS earnings $730,700.97 

Operating expenses 542,962.74 

187,738.23 
Income from other sources 117,819.38 

1895. 

Gross earnings $758,844.71 

Operating expenses 505,975.65 

252,869.06 
Income from other sources 111,745.64 



1896. 

Gross earnings $837,786.79 

Operating expenses 540,855.71 

296,931.08 
Income from other sources 90,202.54 



1897. 

Gross earnings $898,678.38 

Operating expenses 587,622.80 



$368,774.01 



318,653.77 



369,385.06 



305,557.61 



364,614.70 



387,133.62 



311,055.58 



COMPLAINTS AND DPXISIONS 135 

1898. 

Gross earnings $869,565.35 

Operating expenses 539,070.38 



330,494.97 

Income from other sources 114,787.11 

Surplus 1,603,756.65 

Stocks owned, railway 1,201,145.00 

Other stocks 374,370.00 

Bonds owned, railway 835,277.14 

Other bonds 800.00 

2,411,593.14 
1899. 
Gross earnings from operations for year ending March 

31, 1899, entire line $900,140.01 

Operating expenses for year ending March 31, 1899, 

entire line 70,380.24 



$445,282.08 



270,380.24 



EXHIBIT 25. 

Raleigh and Augusta Air Line. 

Valuation for the year 1899 $1,631,499.00 

Valuation for the year 1898 1,265,088.00 

Gross earnings from operations for the year ending 

June 30, 1898 $434,521.00 

Operating expenses for the year ending June 30, 1898 358,894.00 

Income from operations 75,627.00 

Miscellaneous income 7,688.00 

Total income 83,315.00 

Upon a 6 per cent capitalization the property would be 

worth • 1,388,583.00 

For the year ending March 31, 1899: 

Gross earnings $513,368.00 

Operating expenses 369,633.00 



Income from operation 1 43.733.00 

Upon a 6 per cent capitalization this would give as the 

value of the property 2,395,548.00 

It will be observed that the net earnings for the year 
ending March 31, 1899, shows an increase of $83,146 
over year ending March 31, 1898. 
Upon a basis of construction and equipment the prop- 

perty must be worth $1,990,685.00 



136 N. C. CORPORATION COMMISSION. 

1891. 

Gross earnings $317,113.41 

Operating expenses 218,098.61 

99,014.80 
Income from other sources 2,763.61 



1892. 

Gross earnings . . : $281,367.92 

Operating expenses 215,910.17 

65,457.75 
Miscellaneous income, less expenses 2,494.00 

1893. 

Gross earnings $306,586.62 

Operating expenses 239,878.41 

66,708.21 
Income from other sources 2,377.45 

1894. 

Gross earnings $350,900.91 

Operating expenses 318,464.85 

32,436.06 
Income from other sources 6,010.58 

1895. 

Gross earnings $431,086.74 

Operating expenses 324,116.07 

106,970.67 
Income from other sources 5,950.58 

1896. 

Gross earnings $463,454.60 

Operating expenses 356,810.25 

106,644.35 
Income from other sources 9,283.87 

1897. 

Gross earnings $473,057.87 

Operating expenses 373,700.99 

99,356.88 
Income from other sources 8,917.25 



$101,778.41 



67,951.75 



69,085.66 



38,446.64 



112,021.25 



115,928.22 



108,274.13 



COMPLAINTS AND DECISIONS. 137 

1898. 

Gross earnings $434,521.82 

Operating expenses 358,894.71 

75,627.11 

Income from other sources 7,688.67 

$83,315.78 

Bonds owned, railv/ay 15,587.50 

1899. 
Net earnings for year ending March 31, 1899 $2,523,183.00 151,421.78 

EXHIBIT 26. 

Raleigh and Gaston Railroad. 

Valuation for the year 1899 $2,717,831.00 

Valuation for the year 1898 1,888,708.00 

Gross earnings from operations for the year ending 

June 30, 1898 $589,049.00 

Operating expenses for year ending June 30, 1898. . . . 355,012.00 

Income from operation 234,037.00 

Income from other sources 54,420.00 

Total income 288,457.00 

Upon a 6 per cent capitalization this would give us the 

value of the property in North Carolina 4,807,616.00 

Upon a stock and bond basis the value of the property would be as follows: 

Capital stock $1,500,000.00 

Funded debt 1,200,000.00 

$2,700,000.00 

This company also owns bonds and stock of other companies as follows: 

Bonds $550,791.00 

Stocks owned 2,126,751.00 

$2,677,542.00 

The general balance sheet of this company for the year 

ending 1898 shows a surplus of 1,426,299.00 

The net earnings for this road for the year ending 
March 31, 1899, shows an increase over the year 
ending June 30, 1898, of 16,298.00 

Upon a stock and bond basis, taking into account the issue of Georgia, Car- 
olina and Northern Railroad Company of $5,360,000, the principal and interest of 
which the Seaboard and Roanoke and the Raleigh and Gaston Railroad Com- 
panies have endorsed and guaranteed, and upon which they are obliged to pay 
the interest each year, the value of the Raleigh and Gaston Railroad is as 
follows: 



•10 



138 N. C. CORPORATION COMMISSION. 

Capital stock, $1,500,000, worth $80 

Its own funded debt, $1,200,000, worth $1.10 

One-half of G. C. and N. bonds, $2,680,000, worth $1.04 

1891. 

Gross earnings $534,634.43 

Operating expenses 316,231.10 

218,403.32 
Income from other sources 47,258.69 

1892. 

Gross earnings $471,141.17 

Operating expenses 315,001.92 

156,139.25 
Income from other sources 49,825.03 

1893. 

Gross earnings $475,674.67 

Operating expenses 326,611.02 

149,063.65 
Income from other sources 81,268.64 

1894. 
Gross earnings $507,781.97 

Operating expenses 401,194.45 

105,587.52 
Income from other sources 47J81.87 

1895. 

Gross earnings $593,852.48 

Operating expenses 399,817.07 

194,035.41 
Income from other sources 29,783.78 

1896. 

Gross earnings $599,196-68 

Operating expenses 375,574.83 

224,621.85 
Income from other sources 32,247.07 

1897. 

Gross earnings $602,304.23 

Operating expenses 382,279.83 

220,024.40 
Income from other sources 29,084.67 



$12,000,000.00 
1,320,000.00 
2,787,200.00 

5,307,200.00 



265,662.01 



205,964.28 



230,332.29 



154,369.39 



223,819.19 



256,868.92 



249,109.07 



COMPLAINTS AND DECISIONS. 139 

1898. 

Gross earnings $589,049.92 

Operating expenses 355,012.28 

234,037.64 

Income from other sources 54,420.26 

$288,457.90 

Sulplus owned 1,426,299.19 

Stocks owned, railway 1,418,625.00 

Bonds owned, railway 550,791.08 

1,969,416.08 
1899. 

Gross earnings for year ending March 31, 1899 $671,609.31 

Operating expenses 421,274.65 

250,334.66 

Add estimated income from other sources 50,000.000 

300,334.66 

EXHIBIT 28. 

Value of Stocks and Bonds. 

The market value of Raleigh and Augusta Air Line Railroad stock during the 
year 1898 was 13 cents in the dollar. Its market vaiue has been this year 50 
cents in the dollar. 

The market value of Raleigh and Gaston Railroad stock in 1898 was from 
30 to 37 cents on the dollar. It is now worth 80 cents in the dollar. 
* Seaboard and Roanoke Railroad stock from market quotations shows $1.90 bid 
for preferred stock and $2.25 asked. 

January 1899, the common stock was quoted at $1.25. 

January 7, 1899, the common stock was quoted at $2. 

North Carolina Railroad stock in 1898 sold on the market at $1.15. Sales have 
been risade on the market this year at $1.60. 

Southern Railway preferred stock sold as low in the market as 25 cents in the 
dollar in 1898. Its market value is now 55 cents in the dollar. 

Southern Railway common stock sold in the market as low as 8 cents in the 
dollar in 1898. Its market value is now 13 cents in the dollar. 

Atlanta and Charlotte Air Line stock is worth on the market $1.27. 

Seaboard 5 per cent bonds are quoted at $1.11. 

Raleigh and Augusta bonds 6S, due in 1926, are now worth in the market $1.13. 

Southern Railway consolidated 5 per cent bonds are now worth on the market 
$1.11. 

Western North Carolina bonds are worth on the market $1.16. 

Atlanta and Charlotte Air Line bonds are v/orth on the market $1.18 1-2. 

EXHIBIT .... 

Southern Railway Company. 

Total assessment of all lines owned and operated by it in North Carolina,' 
June 1, 1899, $15,270,813.00. 



140 N. C\ CORPORATION COMMISSION. 

Total mileage of all lines owned and operated by it in tlie United States, Tune 
30, 1899, 5,958.68 miles. 

Total mileage of all lines owned and operated by it in North Carolina, 1,193.68 
miles. 

Capital stock, preferred $60,000,000.00 

Capital stock, common 120,000,000.00 

Funded debt 103,932,300.00 

Outstanding securities of leasehold estates upon which 
the Southern Railway pays interest in form of 

rentals 21,508,000.00 

Equipment notes 239,991.00 

Certificates of indebtedness 2,950,000.00 

Mortgages on real estate 58,000.00 

Total value of all the lines of the Southern Railway upon a stock and bond 
basis — Value of capital stock on June 1, 1899: 

Preferred, $57,290,400, at $55 $31,509,720.00 

Common, $120,000,000, at $13 15,600,000.00 

Funded debt, $101,236,000, at $110 111,359,600.00 

Other debts, $24,755,991 24,755,991.00 



183,224,311.00 

North Carolina proportion, mileage basis 36,687,136.00 

Average assessment per mile in North Carolina of 1899 13,339.09 

Average per mile on all the Southern Railway's lines 

in the United States upon stock and bond basis. . . 30,7.^2.00 

H. C. Brown, being duly sworn, says, that the data which appears in the 
annexed exhibit marked "A", were compiled by him from the sworn reports of 
the several railroad, telegraph and steamboat companies named to the Railroad 
Commission, and that the same are true according to the said reports. 

H. C. Brown. 

Subscribed and sworn to before me, the 13th day of September, 1899. 

T. C. H. Dukes, 
[Seal.] Notary Puhlic. 



ASSESSED VALUATION OP RAILROADS IN NORTH CAROLINA. 

1898. 

Atlantic Coast Line System, 788.87 miles, at $12,397. . $9,779,875.80 

Southern Railway, 1,005.20 miles, at $10,520 10,565,729.20 

Seaboard Air Line, 605.62 miles, at $9,995 6,053,667.15 

Miscellaneous roads, 1,078,30 miles, at $5,287 5,700,659.75 

Pullman Palace Car Company . 96,918.15 

Mercantile Trust and Deposit Company 326,071.94 

Total 32,522,921.19 



COMPLAINTS AND DECISIONS. 141 

Telegraph companies $803,510.00 

Steamboat companies 293,437.00 

Total valuation 33,619,868.19 

Railroad Property. 

1898. 

Total mileage in North Carolina, 3,477.99. 

Cost of roads $87,974,113.00 

Cost of roads per mile 25,294.00 

Capital stock 60,429,577.00 

Capital stock, per mile 17,374.00 

Funded debt 55,266,538.00 

Funded debt, per mile 15,890.00 

Gross earnings 11,543,516.00 

Operating expenses 7,395,548.00 

Gross earnings, per mile 3,319.00 

Operating expenses, per mile 2,126.00 

Assessed valuation 32,522,921.00 

Assessed valuation, per mile 9,351.00 

Ta,xes paid, 1898 — State, county, schools and towns by 

the railroads 300,000.00 

Net earnings from operations 4,147,968.00 

Net earnings from other sources 122,876.00 



Total net earnings 4,270,744.00 

Less taxes paid 300,000.00 



Net earnings, after payment of taxes, from which 

to pay interest on funded debt and dividends .... 3,970,744.00 

From above statement we find that the net income from all the railroads in 
the State, after paying operating expenses and taxes, amounts to $3,970,843. 

I his svould equal a valuation on an earning basis of 6 per cent, $66,180,750; 
on an earning basis of 8 per cent, $47,035,537; on an earning basis of 10 per cent, 

$39,703,430, 

Wilmington and Weldon Railroad. 
1898. 
Wilmington and Weldon Railroad Company, including all of its branches, 
613.30 miles. 

Total assessed value $7,482,309.00 

Total assessed value per mile 12,206.00 

Gross earnings from operation 2,200,043.83 

Less operating expenses 1,240,450.11 

Income from operation 959,593.72 

Income ^roni oi^er sources 31,805.75 



Total income 991,399.47 



142 N. C. CORPORATION COMMISSION. 

Deductions — 

Taxes $62,750.06 

Interest paid 418,420.00 



Total deductions $481,170.06 



Net income 510,229.41 

Dividends, 8 per cent on capital stock 240,000.00 



Surplus 270,229.41 

Gross earnings per mile of road 3,579.92 

Operating expenses per mile of road 2,018.47 

Capital stock 3,000,000.00 

Funded debt 7,880,000.00 



10,880,000.00 

Cost of road 11,315,657.00 

Capital stock, per mile 4,892.00 

Funded debt, per mile 12,848.00 

From the above it will be observed that this road paid a dividend of 8 per 
cent on capital stock of $4,892 per mile, and interest on funded debt of $12,848 
per mile, and then had a surplus of $270,229.41. 

This company is the most prosperous of any in the State. 

The Atlantic Coast Line System. 

The Atlantic Coast Line System includes the Wilmington and Weldon and 
branches, and also Norfolk and Carolina, Petersburg, Wilmington, Columbia 
and Augusta, and Cheraw and Darlington. Statement as follows: 
Total assessed value, 788.87 miles, at $12,397 per mile $9,779,875.80 

Gross earnings 2,888,929.04 

Operating expenses 1,737,472.54 



Income from operation 1,283,262.25 

Income from other sources 31,805.75 

Income from all sources 1,283,262.25 

Gross earnings per mile of road 3,788.00 

Operating expenses per mile of road 2,202.00 

Capital stock 5,039,289.00 

Funded debt 10,029,803.00 

15,069,092.00 

Cost of roads 15,243,857.00 

Capital stock, per mile 6,387.00 

Pounded debt, per mile 12,715.00 

Dividends paid 362,164.00 

Paid also all the interest on funded debt, and then had a surplus. 



COMPLAINTS AND DECISIONS. 143 

Southern Railway. 

The following is a condensed statement of the Southern Railway in the 
United States and in North Carolina: 

First: United States, which includes all lines owned by the Southern Rail- 
way, 3,513.48 miles. 

Capital stock $177,290,400.00 

Bonds or funded debt 101,236,000.00 

Equipment obligations 202,817.00 



Total 278,729,217.00 

Capital stock, per mile 50,033.00 

Equipment obligations, per mile 57.00 

Total, per mile 78,660.00 

Add to the owned lines the leased lines, and the mileage is 4,947.63, which 
brings the amount of capital stock and funded debt on the whole to $59,044. 
Income as follows: 

Income Account — Entire Line. 

Gross earnings from operation $21,078,980.82 

Less operating expenses 13,768,808.93 

Income from operation 7,310,171.89 

Dividends on stocks owned 140,912.52 

Interest on bonds owned 6,125.00 

Miscellaneous income, less expenses 201,340.56 

348,378.08 

Income from operation 7,310,171.89 

Income from other sources 348,378.08 

Total income 7,658,549.97 

Deductions from income 

Interest on funded debt accrued $4,974,143.51 

Intertest on interest-bearing current liabilities accrued, 

not otherwise provided for 54,052.88 

Interest on real estate mortgages 3,000.00 

Rents paid for lease of road 898,038.99 

Taxes 716,197.58 

Other deductions 6,104.92 

Total deductions from income 6,651,536.88 

Net income 1,007,003.09 

Dividends, 1 per cent preferred stock 543,000.00 

Surplus from operations of year ending June 30, 1898. . 464,013.09 

The above statement shows that the entire system paid, after operating 
expenses and taxes, interest on a funded debt of $28,570 per mile of owned roads, 



144 N. C. CORPORATION COMMISSION. 

and 1 per cent on its preferred stock, which is about $54,000,000, and nothing on 
the common stock, and then had a surplus of $464,013. 
The operations in North Carolina are as follows: 

Southern Raihvay. 

Owned lines, miles 590.22 

Leased lines, miles 414.98 

Total, miles 1,005.20 

To:al assessed value $10,565,729.00 

Equals a valuation per mile of 10,520.00 

Gross earnings from operation 4,701,282.75 

Operating expenses 2,976,792.67 

Earnings from operation 1,724,489.08 

Gross earnings, per mile 4,676.00 

Operating expenses, per mile 2,961.00 

Cost of road 41,455,770.00 

Capital stock 35,858,834.00 

Funded debt 19,719,538.00 

Capital stock, per mile 35,670.00 

Funded debt, per mile 19,617.00 

The operations of the North Carolina Railroad show as follows: 

Gross earnings $1,688,339.84 

Operating expenses, including taxes 1,269,060.58 

Net income from operations 419,279.26 

Dividends paid 6 1-2 per cent $260,000.00 

Otlier charges 6,000.00 

266,000.00 

Net surplus 153,279.26 

The Southern Railway pays for this lease 6 1-2 per cent on capital stock, and 
the taxes. 

After next year the Southern Railway is to pay $280,000 per year and taxes. 

Capital stock $4,000,000.00 

Capital stock, per mile 17,893.00 

Cost of road 4,975,627.00 

Cost of road, per mile 22,257.00 

Gross earnings, per mile 7,552.42 

Operating expenses, per mile 5,676.85 

Seaboard Air Line System in NortJi Carolina. 
Six huiidred and five and sixty-two-hundredths miles. 

Total assessed value $6,053,667.15 

Total assessed value, per mile 9,995.00 

Gross earnings from operation 2,155,210.97 

Less operating expenses 1,488,828.70 

Income from operation 666,412.27 

Income from other sources 91,071.13 

Total income 757,483.40 



COMPLAINTS AND DECISIONS. 145 

Gross earnings per mile of road $3,558.00 

Operating expenses per mile ot road 2,458.00 

Capital stock 5,585,358.00 

Funded debt 11,131,400.00 

Capital stock per mile of road 9,222.00 

Funded debt per mile of road 18,383.00 

The only dividend paid was 2 per cent by Durham and Northern Road and 
Seaboard and Roanoke. 

Is^ortli Carolina Railroad Company. 

The net receipts for 1898 were $419,279.26 

Upon a 6 per cent capitalization the property would be 

worth 6,987,987.00 

Upon bond and stock it would be worth — 

Stock 4,000,000.00 

Value of stock 5,200,000.00 

Upon the basis of cost and construction and equipment 

the value would be 4,975,627.00 

The properties were valued in 1898 at 4,012,593.00 

Wilmington and Weldon. 

The net receipts, 1898 $959,593.72 

Upon a 6 per cent capitalization the property would be 

worth 15,993,228.00 

Upon a bond and stock basis it would be worth — 

Stock $3,000,000.00 

Bonds and certificates of indebtedness 7,380,000.00 

10,380,000.00 

Upon the basis of cost of construction and equipment 

it would be 10,802,242.32 

Upon an asset basis the cost of road 10,802,242.32 

Cash and current assets 419,843,90 

Total 11,222,086.22 

Assessed in 1898 at 7,222,954.75 

Raleigli and, Gaston Railroad Company. 

The net receipts for 1898 were $234,037.64 

Upon a 6 per cent capitalization the property would 

be worth 3,900,627.00 

Upon a bond and stock basis it would be worth — 

Stock $1,500,000.00 

Bonds ■ 1,200,000.00 

Total ; 2,700,000.00 

Upon the basis of cost and construction and equipment 

the value would oe 1,684,440.00 

The properties were valued in 1898 at 1,888,708.44 



146 N. C CORPORATION COMMISSION. 

Western Union Telegraph Company in North Carolina. 

Twelve thousand six hundred and thirty-one miles of wire, North Carolina. 

Bight hundred and forty-one thousand and two miles of wire, United States. 

Capital stock $97,370,000.00 

Funded debt 15,352,002.00 



COMPLAINTS AND DECISIONS. 



147 



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148 



N. C CORPORATION COMMISSION. 




COMPLAINTS AND DKCiiSIONS. 



149 



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N. C. CORPORATION COMMISSION. 



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COMPLAINTS AND DECISIONS. 



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152 



N. C. CORPORATION COMMISSION. 









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COMPLAINTS AND DECISIONS. 



153 



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154 



N. C CORPORATION COMMISSION. 



Steamboat and Canal Property 



Charles Wessell, steamer, Wilmington 

David Styron, steamer. New Bern ^ 

J.C. Whihy, steamer, New Bern 

Cape Fear Kiver Transportation Company, steamer, Fayeiteville 

J. S. Basnight, steamer, New Bern 

S. B. Sadler, canal property, Fairfield 

Old Dominion Steamship Conipan}^, steamers, Washington 

J. G. & F'. Wood, steamer, Kdenton 

Tar River Oil Company, steamer, Tarboro 

Black River Packet Company, steamer, Wilmington 

Cape Fear Towinyf Transportation Company, steamer, Wilmington 

Albemarle and Chesapeake Canal Company, canal, Norfolk 

W. H Ward, SI earner, Wilmington 

Broadus & Ives, steamer. New Bern 

J. J. Lassiter, steamer. New Bern 

Moccasin River Steamboat Company, steamer, New Bern 

Roanoke and Tar River Steamb(;at Company, steamers, Williamston 

D. W. Roper Co, steamer, E<lenton ^ 

H.G.Wood, steamer, Eden ton 

J. W. Harper, steamer. Son! hport 

Guard & Thornton, steamer, Elizabeth City 

Branning Manufacinring Compan5', Edenton 

Fairfield and Elizabeth Ciiy Tran^^portation Company, steamer, Fairfield 

Lake Drummond Canal Company, canal, Deep Creek 

New Bern and Stiow Hill Sti-amship Company, steamer. New Bern 

Walter Taft, steamer, Wilmington ! 

Steamer Neuse, steamer, Norfolk ! 

Norfolk and Southern Railroad Barge, steamer, Norfolk 



$1, 100. DC 

6oo. CO 

1, 000. oo 
5, 100. oo 

250. 00 

7,376.00 

45,000.00 

3, 000. oo 

2, 500. 00 
2,500.00 

23,500.00 
100,000. 00 

500.00 
800. 00 

1,550.00 

I , 000. CO 

6,461,00 
800. 00 
650, 00 

8 , 000 . 00 

500. 00 
7, 500. 00 

! , 000. 00 
If', 000.00 

^,',50.00 
700. 00 

; O, coo. 00 
!,00O. 00 



Total . 



29c, 937- 09 



Telegraph Companies 



Value. 



Western Union Telegraph Company 

Atlantic Postal Telegraph Company 

Carthage Telegraph Line 

Pittsboro Telegraph Line 

Louisbnrg Telegraph Line 

United Telegraph Company 

Cleveland Springs Telegraph Company 

Oak Ridge and Stokesdale Telegraph Company _ 
Elizabeth City and Norfolk Telegraph Company. 
Lenoir and Blowing Rock Telegraph Company--. 

Swepsonville Telegraph Line 

Carolina Postal Telegraph Company 

Wilmington and Southport i elegraph Company 

Total 



1750,000.00 

50,000.00 

2 1 o. 00 

250.00 

200, 00 

85. 00 

50.00 

140.00 

1,350.00 

480 . 00 

80.00 

i6>oo 

500. 00 



8c'3,5io. CO 



Recapitulation . 



Atlantic Coast Line System 

Southern Railway System 

Seaboard Air Line 

Miscellaneous Roads 

Pullman Palace Car Company - 

Mercantile Trust and Deposit Company— Rolling Stock- 



Total Railroad Propei ty 



Telegraph Property 

Steamboat and Canal Property- 



Total 



$9,779,875.80 
10,565,729. 20 
6,053,667. 15 

5,70.', i.= 9-75 

96,918. 15 

326,071.94 



3^.525.421-99 



803,510.00 
290, 937.. 00 



33,619,868.99 



COMPLAINTS AND DECISIONS 155 

Affidavit of Hehuekt W. Jackson. 

Herbert W. Jackson, being duly sworn, says, that for eight years he has been 
the Assistant Cashier of the Commercial and Farmers Bank of Raleigh. That 
he is and has been acquainted with the market values of the following stocks: 

That on the 19th day of July, 1898, the market value of Raleigh and Gaston 
stock was $35 a share (par value $100). 

That on the 4th day of October, 1898, the market value of Raleigh and Augusta 
Air Line Railroad stock was $12.50 a share (par value $100). 

That on the 18th day of May, 1898, the market value of North Carolina Rail- 
road stock was $135 a share (par value $100). 

That in June 1898, the market value of Southern Railway preferred stock was 
from $28 to $30 a share (par value $100); and of Southern Railv/ay common 
stock $8 to $9 a share (par value $100). 

That in August, 1899, the market value of Raleigh and Gaston Railroad stock 
was $80 a share. 

That in May, 1899, the market value of Raleigh and Augusta Air Line Railroad 
stock was $45 to $50 a share. 

That in August, 1899, the market value of North Carolina Railroad stock was 
$160 a share. 

That in August, 1899, market value of Southern Railway preferred stock was 
$53 to $55 per share. 

That in August, 1899, the market value of Southern Railway common stock was 
$12 a share. 

H. W. Jackson. 

Subscribed and sworn before me, this 11th day of September, 1899. 

E. B. Crow. 
[Seal.] Notary Public. 



Affidavit of S. L. Patterson. 

Samuel L. Patterson, being duly sworn, deposes and says: 

I am now Commissioner of Agriculture for the State of North Carolina, and 
occupied that position once before. I have also served for several terms in the 
General Assembly of North Carolina, and have traveled quite extensively over 
the State. From information received from many sources, I am forced to 
believe that the farmers can not be considered as prosperous, and that the bus- 
iness of farming as a whole has not prospered for some years past. 

The value of lands has decreased, and the demand for land for agricultural 
purposes at fair prices has almost disappeared. Few men want to buy land for 
investment. Men with money do not care to invest in land, or to loan their 
money with real estate as a basis of security. 

The returns from such property are generally so small and uncertain that 
little inducement is offered for investment. 

Lands forced upon the market frequently do not bring the amount of their 
assessment for taxes. 



156 N C. COKPORATIOX COMMISSION. 

Taking the average farmer in North Carolina, after deducting current expenses 
and allowing fair wages for the work done upon his farm, and fair compensa- 
tion for the supervision, hardly anything is left from the gross receipts, which 
may be considered as the net income of the land; hence the rental of lands is 
uncertain, and for the most part has been unprofitaole. 

It would seem that our farm lands, for the time being, have ceased to attract 
investors at any sort of reasonaole price. I do not oelieve this condition will 
last. Our farmers have passed through a severe ordeal and have learned much 
by bitter experience. I believe a new era is opening upon them. Changes in 
our system of agriculture^ — diversification of crops, raising of home supplies, 
greater attention to stock, grasses, forage and renovating crops, will eventually 
cause a return of independence and prosperity to the farmer, and a consequent 
enhancement of the value of his land. 

Already our farmers are raising more home supplies and surrounding them- 
selves with more of the comforts and conveniences of life. In these respects 
their condition is improving; but as a money-making business farming remains 
depressed, and land is very low in price. S. L. Patterson. 

Sworn to and subscribed before me, the 12th day of Septemoer, 1899. 

JAMES O. LtlTCHFORD, 

[Seal.] Notary Public. 



Affidavit of C. B. Hart. 

C. B. Hart, being duly sworn, deposes and says: 

I am a citizen and resident of Raleigh, N. C, and am a member of the firm 
of The Julius Lewis Hardware Company, dealers in hardware in that city. 

In the past year there has been an enormous rise in the price of iron, steel and 
the products of the same. I find quoted in The Iron Age, which is a reliable 
paper and standard authority upon the iron business, the following quotations: 
Pig iron, foundry No. 2, standara, Philadelphia— 

PER TON 

September 7, 1898 $10.75 

September 6, 1899 22.25 

Lake Superior Charcoal, Chicago — 

September 7, 1898 11.50 

September 6, 1899 23.50 

Steel Billets, Pittsburg— 

September 7, 1898 16.00 

September 6, 1899 38.00 

Steel Rails, Heavy, Eastern Mill — 

September 7, 1898 18.00 

August 31 , 1899 .' 32.00 

Old Steel Rails, Chicago — 

September 7, 1899 7.75 

September 6, 1899 17.00 



COMPLAINTS AND DECISIONS. 



157 



Old Steel Raiis, Philadelphia — per ton. 

September 7, 1898 10.50 

September 6, 1899 18.50 

Old Car Wheels, Chicago — 

September 7, 1899 11.00 

September 6, 1899 16.50 

Old Car Wheels, Philadelphia- 
September 7, 1898 10.50 

September 6, 1899 18.00 

Most of the rise in iron has taken place since the 1st of July, 1898, and the 
tendency is still upward. All kinds of iron are affected by the rise, and the 
foregoing examples are given because they are heavy gra,des, and there is less 
workmanship on them than on most any other kind of iron, and the rise in the 
price of the same is almost entirely the rise in the price of the metal. 

I belive the quotations herein given are correct. 

Tlie following table shows the percentage of advance on iron from June of 
1893 to June, 1899: 



Prices, June, 

1898. 



Prices. June, 

1899. 



Pig Iron . 

Steel 

Copper . . . 
Tin Pig . . 
Tin Plate. 
Asbestos . 

Wire 

Pipe 

Bolts 



$9.00 
1.80 

10.50 
1.50 
2.70 
2.75 
1.25 
1.83 
10 per 



80-10 and 

cent. 

Fittings 75-10 per cent 

Rivets 0-10 and 

cent. 



10 per 



$16.50 
3. 20 
18.00 
2. <)0 
4.50 
3.00 

2. 60 

3. 75 
70-10 and 5 per 

cent. 
50 and 10 percent 
70 per cent 



Percent- 
age of 
Advance. 



83K 
773^ 
Tli^ 

m% 

30 A- 
108 
101 

100 



Chas. B. Haet. 



Affidavit of J. C. S. Lumsden. 

-1. C. 3. Lumsden, being duly sworn, says he believes the foregoing affidavit to 
be true and correct. 

J. C. S. Lumsden. 



Sworn to and subscribed before me, the 11th day of September, 1899. 

R. E. German, 
[Seal.] Notary Public. 



158 N. C. CORPORATION COMMISSION. 

Affidavit of Franklin McNeill. 

Franklin McNeill, being duly sworn, deposes and says: 

I was present at the hearing of the Wilmington Tariff Association of Wil- 
mington, N. C, against the Cincinnati, Portsmouth and Virginia Railroad Com- 
pany and others, on April 20, and 21, 1899, before the Interstate Commerce Com- 
mission; and I heard the testimony of Mr. Harry Walters, and I think I remem- 
ber substantially and I think his testimony was as is set forth in the annexed 
exhibit. 

(Signed) Fkanklin McNeill. 

Sworn to and subscribed before me, the 13th day of September, 1899. 

(Signed) x. C. H. Dukes, 

[Seal.] Notary PuUic. 



EXTRACTS FROM THE EVIDENCE OF MR. WALTERS, PERTINENT TO 

THIS ISSUE. 

Q. Will you please state now to the Commission whether or not there was 
issued to the original stock of the Wilmington and Weldon Railroad certain 
shares of stock by this Connecticut corporation? I do not know its name^ — what 
was its name? A. It is now the Atlantic Coast Line Company. 

Q. What was it called originally? A. The American Improvement and Con- 
struction Company. 

Q. Did not that company issue certain shares of stock to the holders of the- 
original stock of the Wilmington and Weldon Railroad? A. Will you let me 
tell it? 

Q. Certainly. A. The Wilmington and Weldon Railroad had certain property 
to which, my recollection is, it had paid somewhere in the neighborhood of a 
million dollars. It consisted of stock in broken-down companies which it had 
bought at low prices and which now form part of the Atlantic Coast Line — not 
part of the Wilmington and Weldon Railroad, except the Albemarle and Raleigh 
Road. That property was sold to this company, this Connecticut company you 
speak of, and instead of paying for it in cash it paid for it in its stock, and 
that stock was distributed among the stockholders of the Wilmington and Wel- 
don Railroad. 

Q. The consideration then, for the stock was of course certain assets of the 
Wilmington and Weldon Railroad. How many shares of that stock would a 
single share of the Wilmington and Weldon Railroad stock receive, or did it 
receive? A. I think it received two shares. 

Q. Did the stock of this American Improvement Company pay dividends? A. 
Not for a long time. It was worth twenty cents on the dollar then. 

Q. State the par value of that stock. A. One hundred dollar shares; the orig- 
inal one was $50. 

Q. I mean the American Improvement Company? A. That was $50. The 
holder got four shares. 



COMPLAINTS AxND DECISIONS. 159 

Q. That is two to one? A. Yes, sir; it was valued at one million dollars, and 
that is what it sold for for some time. 

Q. That stock has paid a dividend? A. That concern owns a great many other 
things. That has a great manj'' things that have increased a great deal in value 
which have not any relation at all to this question. 

Q. What dividend did it pay? A. Never more than 4 per cent. 

Q. Now, you say that company is not in existence now? A. The name was 
changed to the Atlantic Coast Line Company by legislative enactment. 

Q. In this recent reorganization of the Atlantic Coast Line of South Carolina 
lias there not been a further distribution of stock or bonds to the original 
holders of the Wilmington and Weldon? A. The Atlantic Coast Line of South 
Carolina paid to tne Wilmington and Weldon Railroad — w^hen the Wilmington 
and V/eldon surrendered the lease of the Wilmington, Columbia and Augusta, 
there had been six or seven hundred thousand dollars spent on that road by the 
Wilmington and Weldon during the lease. They paid $500,000 of their Atlantic 
Coast Line stock — I speak in dollars rather than shares. That was distributed 
among the stockholders of the Wilmington and Weldon Road for the payment 
of the improvement which had been put upon the road. 

Q. Those were for betterments of the Wilmington, Columbia and Augusta? 
A. Those were for betterments on the Wilmington, Columbia and Augusta. Yes, 
sir. 

Q. The holder of one share of Wilmington and Weldon stock — one share of 
Wilmington and Weldon stocK received again from tnis Atlantic Coast Line of 
South Carolina how many shares? A. Five hundred thousand dollars; divided 
among $3,000,000. 

Q. That has not paid any dividends, has it? A. It will pay dividends. Our 
properties are all profitable, I am glad to say. We are not ashamed of it. I am 
proud of another record and that is that the total bonded indebtedness and the 
stock on the Wilmington and Weldon Railroad is less than it cost to build it — • 
i^l8,500 a mile, stock, bonds and indebtedness. 

Q. On the whole system? A, No, the Wilmington and Weldon Railroad. It is 
a little more on. the whole system; it is $19,000 a mile — about $500 more. 

Q. Now, as a result of this splendid record and development, if a man held in 
1885 one share of Wilmington and Weldon Railroad stock and retained it until 
now, what would be its value by reason of these improvements? A. I can not 
give you that. 

Q. I do not mean the stock alone, but all these several things. A. I can not 
glYe you that, for tlie reason that you are carrying in your mind that this Con- 
necticut stock is worth so much money, which it is worth, but that has been 
caused by many other things. It was worth only twenty cents when issued, 

Q. This certificate of indebtedness and this recent issue of stock from the 
Atlantic Coast Line; that is really derived from the earnings of the Wil- 
mington and Weldon Railroad? A. That is right. 

Q. The only thing, then, that has served, other than the railroad, to enhance 
this value is this Am.erican Improvement stock, which is made valuable by other 
things? A. That is right. 

Q. Well, eliminating that, what would be the value of a man's original share 



160 N. C. CORPORATION COMMISSION. 

of Stock now — how much has it increased in value? A. Of course he wanted a 
long time for his certificates, 

Q. He got interest in the meantime? A. He got it since 1887. 

Q. Well, since 1887, you know what they are worth; I mean in a general way? 
A. The stock itself is selling for 145, the certificates are worth 115, and when I 
think that dividend yoii had on that $500,000 is 7 1-2 — that is worth par. 

Q. That would make the stock worth something like $300? A. I wish it was 
worth more, although I only own twenty shares myself. 

Q. All of this through freight, or the great bulk of this through freight com- 
ing to Wilmington which you take up at Richmond, Petersburg and other points 
comes chiefly over the Wilmington and Weldon Railroad; does it not? A. It 
comes over 85 miles of the Atlantic Coast Line of Virginia, and then 162 miles 
of the Wilmington and Weldon. 

Q. About two-thirds of the distance it comes over the Wilmington and Wel- 
don? A. It comes over the two corporations. They have no relation to each 
other. 

Q. A decrease in the rate on that tariff would not affect the properties of that 
road in South Carolina as to that particular freight; i mean if you receive less 
money on this through business from Richmond here it would not affect the 
earnings of your road in South Carolina between here and Mount Airy? A. Not 
at all. 

Q. It would only affect the main stem? A. They have nothing whatever to 
do with each other. 

Q. Did not the original holders of the Vv^ilmington and Weldon stock receive 
also, at the time of the purchase of this road from here to New Bern, some addi- 
tional stock? A. Well, that is not what they receive. I will tell you what they 
d:d receive. They bought that road; the Wilmington and Weldon Railroad 
bought that road and paid $400,000 for it, issuing bonds, which bonds were 
divided. 

Q. The bonds were taken up and divided? A. Yes, sir; that is right. 

Q. What is the rate of interest on those bonds? A. Four per cent. 

Q. They were just issued? A. A couple of years ago; just before the road 
was bought. 

Q. I believe that is all. 

Cross-Examination. 

Q. If you reduce the rates over the Wilmington and Weldon and the Atlantic 
Coast Line of Virginia from Richmond to Wilmington, would not that neces- 
sarily affect the rates and earnings of the Atlantic and Yadkin and the Atlantic 
Coast Line of Sovith Carolina on Western business? A. Wherever it is compet- 
itive it would. They would have to meet those rates. 

Q. To Wilmington we are speaking of. A. Yes, sir; to Wilmington. 

Q. So, a reduction to Wilmington would not simply involve that part of the 
system, but it would involve the others? A. I do not quite understand you. 

Q. Would it not affect the other roads that handle business into Wilmington? 
A. Ary business competitive from points in the west they both work from; if 
that was business they handle, I take it the rates would have to be reduced. 



COMPLAINTS AND DECISIONS. 161 

Q. That would not apply to freight coming only to Wilmington? A. From 
where? 

Q. From the west. Suppose the rates from Louisville or Chicago to Wil- 
mington over your system were reduced? A. I am not familiar with the exact 
rates, if Louisville is competing at Wilmington with two routes — we hold our 
roads north and south of here entirely, we work each for itself and try to 
equalize rates between them, so that each will have a fair share of business. 
We do it with all of the territory out of here. We do not try to force our busi- 
ness by the long haul. We let Wilmington draw all the business she can, so 
'-'"Lth Charleston a"d Norfolk. We try to equalize the rates between those places. 
We also let them compete with the business coming from the west, for Wil- 
mington is a joint point; therefore, if the rate was reduced one way it would 
be reduced the other way. 

(See pp. 335 to 344, inclusive.) 



3 62 



N. C. CORPORATION COMMISSION. 



An Abstract of the Affidavits Introduced by the Defendants, and on pilk 
IN THE Office of the Circuit Court at Raleigh, N. C— Southern Rail- 
way Company vs. The North Carolina Corporation Commission, et al. 



County 



Alamance 

Alexander 

Anson 

Beaufort 

Bertie 

Bladen 

Brunswick 

Buncombe 

Burke 

Cabarrus 

Caldwell 

Camden 

Carteret 

Catawba 

Chatham 

Chtrokee 

Clay 

Cleveland 

Columbus 

Craven 

Currituck 

Davidson 

Davie 

Duplin 

Durham 

Kdgecombe 

F'orsylh _'__ 

Franklin 

Gaston 

Gates 

Graham 

Greene 

Granville 

Halifax 

Harnett 

Henderson 

Haywood 

Hertford 

Iredell 

Jackson 

Johnston 

Jones 

Lenoir 

Macon 

Madison 

Martin 

McDowell 

Mecklenburg- 

Mitchell 

Montgomery. 

Moore 

Nash 

New Hanover 
Northampton 

Onslow 

Orange 

Pamlico 

Pasquotank __ 

Pender 

Perquinans -_ 

Person 

Pitt 

Polk -. 

Randolph 

Richmond 

Robeson 

Rockingham -. 

Rowan 

Rutherford 

Sampson 



No Affi- 
davits. 



136 

r\ 

3^ 



Lssessors 



Equali- 



County 
Officers. 



50! 
'9 
II ! 

3: I 
19 j 

94 I 
36 1 
44 



8 
13 
5 
7 
II 
II 
13 
19 
23 
14 
23 
29 
32 
25 
26 
34 
25 



I I- 
5 
12 
6 



Money 
Lenders. 



Increase lu 
Value. 



l747,35ti.oi 
72,563.00 
162,383.58 



20, 000. 00 



47,745.00 
10,000.00 



25 :..._ 

7 1 61,050.00 
II I 



4 480.00 

13 j 200,000.00 

6 j 200, 000. 00 



---j 129,446.00 
7 ' 2, 6c 0,000.00 



10,000.00 



66.831.00 
914.21 



400, oco. 00 

155,547.00 

100,000.00 



70,987.00 



ioi,oSo. 10 
1 00, 000. 00 
287. 122,00 



190, 071.00 

2CO, 000. 00 



32,262.00 

345,378.00 



364,770.00 
500,000.00 



125,000.00 



COMPLAINTS AND DECISIONS. 



J 63 



An Abstract of the Affidavits Introduced, Etc. — Continued 

No. Affi 



Stanly 

Stokes 

Swain 

Transvlvania- 

Tyrrell 

Union 

Vance 

Wake 

Warren 

Washingtou-- 

Wayne 

W'lkes 

Wilson 

Yadkin 



davits. 



I Assessors 



Deduct Northampt'n! 



Counties Reported i 



2,9?3 



S? 



Equal! 
zation 



County 
Otticers. 



Money 
Lenders. 



1,28; 



266 



337 



85 



_SS 



05 



Citizens 



Increase in 
Valuation, 



1417,018.00 



176,443.00 
100,000.00 



J 07 
29 



t;0O,O0O. 00 



253, 246.00 



■5,821,675.02 
50. 000. GO 



8, 7 7 ',673. 02 



51 



35 



No report from other counties. 

Since this statement wa.s tabulated about a hundred affidavits, from various counties, have been 
received and filed vpith the Clerk of the Court, but not included in this statement. Jas. H. Pou. 



164 N. C. CORPORATION COMMISSIO.V 

On the 13th day of September, 1899, the return day of the said orders to show 
cause, the defendants appeared before Judge Simonton at Chambers, in Ashe- 
ville, N. C, and made a return to said orders to show cause, and by consent all 
of said causes were heard together, and after argument of counsel for both sides 
the Court reserved its decision. 

On November, 1899, the Court filed opinion in all of said suits as follows: 



IN THE CIRCUIT COURT OF THE UNITED STATES.- 
FOR THE EASTERN DISTRICT OF NORTH CARO- 
LINA. —SITTING IN EQUITY AT RALEIGH, N. C. 



Opinion. 

THE SOUTHERN RAILWAY COMPANY, THE SEABOARD AND ROANOKE 
RAILROAD COMPANY, THE ROANOKE AND TAR RIVER RAILROAD 

COMPANY, THE RALEIGH AND GASTON RAILROAD COMPANY, THE 
RALEIGH AND AUGUSTA AIR LINE RAILROAD COMPANY, THE CAR- 
OLINA CENTRAL RAILWAY COMPANY, THE ATLANTIC COAST LINE 
RAILWAY COMPANY OF VIRGINIA, THE WILMINGTON AND WELDON 
RAILROAD COMPANY, THE NORFOLK AND CAROLINA RAILROAD 
COMPANY, 

vs. 

THE NORTH CAROLINA CORPORATION COMMISSION et al. 

There are nine bills filed by the complainants whose names appear in the cap- 
tion against the North Carolina Corporation Commission, its several members 
and agents, and the officers of the State whose duty it is to enforce the assess- 
ment and collection of taxes. 

The general features of the bills are the same and their grounds of complaint 
are similar. 

They allege that the North Carolina Corporation Commission has assessed for 
taxation the value of the property of each of them, and that in so doing they have 
acted illegally and without warrant of law. 

There are four grounds upon which this allegation is based. 

1. It is denied that the Corporation Commission had any power to levy the 
assessment complained of. 

2. It is charged that the method for assessing the value of railroad property 
differs so materially from that provided for assessing other property in the 
State, as to deny the complainants the equal protection of the law. 

3. That there has been in the State of North Carolina a systematic and inten- 
tional undervaluation of real and personal property, other than railroad prop- 
erty, with the design to discriminate against railroads and to cast upon them an 
undue share of the burdens of taxation, for the purpose of relieving such other 
property of its just proportions of State taxation. 



COMIM.AINTS AND DECISIONS. 1H5 

4. That there being this systematic and intentional undervaluation of real and 
personal property, other than railroad property, the property of complainants has 
been valued higher than that of individuals. 

The bills each prayed for an injunction. Jpon filing the bills a rule in each 
ease was issued, requiring the defendants to show cause on a certain day, why 
an injunction in each case should not be issued as prayed for. In the mean- 
time the ordinary restraining order was passed, retaining matters in statu 
quo, the complainants in each case, however, having been required to tender and 
pay into the State treasury the amount of the tax measured by an assessment 
plainly unquestionable, and conceded to be legal. Alburquerque Nat. Bank v. 
Perea, 147 U. S., 87; Northern Pacific R. R. Co. v. Clark, 153 U. S., 252. 

The returns have all been made. The affidavits filed on each side, numerous 
beyond example, have been considered and counsel have been heard in an elab- 
orate and exhaustive discussion. 

The first question which arises in these cases, as indeed in every case, is as to 
the jurisdiction of the court. 

It is said that the great majority of the complainants are corporations of 
North Carolina. But the questions raised are Federal questions under the Four- 
teenth Amendment. 

The assessment for taxation is the first, and perhaps, the most important step 
in the levy and collection of the tax. If the Corporation Commission have not 
the power to assess these complainants then this is the first step in depriving 
them of their property without due process of law, and if there be discrimination 
in the assessment made with a view of casting upon them the burden of taxa- 
tion to the exoneration of other real and personal property, each of them la 
denied the equal protection of the law. 

Beside this would be the taking of private property for public purposes with- 
out compensation. 

So each of these depends upon the construction and application of the Con- 
stitution of the United States. This fact gives the court jurisdiction without 
regard to the citizenship of the parties. 25 U. S. Statutes at Large, 437; Ames 
T. Kansas, 111 U. S., 449; Cohen v. Virginia, 6 Wheat, 264. 

And if the statutes under which the Corporation Commission act are in con- 
flict with the Constitution of the United States, it and the State officers acting 
under its procedeing may be enjoined. Pennoyer v. McConnaughy, 140 U. S., 1. 

The next question is, has the North Carolina Corporation Commission the 
power to levy assessments on the property of railroads? 

The discussion of this question will require an examination in detail of some of 
the Acts of Assembly of the State ol North Carolina. 

The North Carolina Corporation Commission was created by an Act of Assem- 
bly, ratified March 6, 1899, and made of force from and after April 5, 1899. It 
provides for thr-.^e Commissioners. The first board to be elected by the Legisla- 
ture, all subsequent boards to be elected by the people, beginning with the general 
election in 1900. The Corporation Commission is given a general supervision 
over railroads, steamboat, navigation and canal companies, express, telegraph 
and telephones ccnipanies, building and loan associations, banks and sleeping-car 
companies. 



166 N C CORPORATION (COMMISSION. 

Ill the yccond section of the act the duties of the Commission are minutely set 
out in t\ (nty-four subdivisions. It may assist this examination to set them out. 
They have power to make rates of freight, passenger and express tariffs; to 
make reasonable and just rules for corporations handling express or freight; 
to make rules to prevent discrimination; to make just rates for use of railroad 
cars carrying freight or passengers; to prevent rebates; to make through rates 
for transportation of freight, passengers or express; to make rules for handling 
freight and baggage at stations; to make rates for transportation of packages by 
express companies or corporations; to make rules as to contracts entered into 
by one railroad company or corporation to carry over its lines cars of any other 
company or corporation; to make rates for any telegraph or telephone company; 
to make rates for rental of telephones; this not to apply to telephone lines here- 
after constructed, nor to telephone instruments giving interstate connections, 
until three years after ratification of the act; to require establishments of 
stations by any corporation or company engaged in transportation of freight or 
passengers and the erection of depots; to require the change or repair of stations 
and additions thereto; to require separate waiting rooms for white and colored 
races; to require construction of side-tracks by any railroad company to any 
industries established or to be established ; to exercise the power over banks here- 
tofore exercised by the State Treasurer; to appoint persons to examine and 
report; to give all information to the State Treasurer as to the solvency of 
banks; to exercise certain powers over building and loan associations; to appoint 
suitable persons to examine them; to collect fees for these purposes heretofore 
collected by the Auditor of the State; to prescribe rules of practice and proceed- 
ing in all matters before them; to perform all the duties and exercise all the 
powers imposed or conferred by chapter 320 of the Public Laws of 1891, and the 
acts amendatory thereto. 

This chapter '620 of the Laws of 1891, is entitled "An Act to provide for the 
general supervision of railroads, steamboat or canal companies, express and tel- 
egraph companies doing business in the State of Morth Carolina," popularly 
known as the Railroad Commission Act. It also goes into minute detail as to 
the powers and duties of the Railroad Commissioners, as minutely as does the 
Corporation Commission Act. Chapter 320, Acts of 1891, was ratified on the 5th 
of March, 1891, and v\rent into effect 1st of April thereafter. 

There appears but one amendment to this chapter 320 eo nomine. This is 
chapter 206, Laws of 1897, "An Act to amend chapter 320, Laws of 1891, establish- 
ing a Railroad Commission." 

Neither chapter 320, nor the chapter 206 of the Laws of 1897, say anything 
about the assessment of railroad property, nor is any such power apparent in 
the Act of 1899, constituting the Corporation Commission. 

It is said, however, that this chapter 320 has been really amended by acts of 
the General Assembly. At the same session of the General Assembly which 
passed the Railroad Commission Act, the Legislature pased an act to provide 
for the assessment and taxation of property. This act was ratified 9th of March, 
1891, and went at once into operation. This act is known as the Machinery Act, 
and it puts in operation the levy of taxes. At each session of the General 
Assembly a Machinery Act is passed almost in totidem verbis with that of the 



COMPLAINTS AND DECISIONS. - 167 

previous session. Each Machinery Act has a repealing clause, in these words: 
"All acts and parts of acts inconsistent with the provisions of this act are hereby- 
repealed." 

This Machinery Act, as it was passed session by session, declared how, when 
and by whom various classes of property should be assessed. Among these is 
provided that the Commissioners elected from time to time under the authority 
of an act to provide for the general supervision of railroad, steamboat or canal 
companies, express and telegraph companies doing business in the State of North 
Carolina, shall constitute a board of appraisers and assessors for railroad com- 
panies. Did the Machinery Act of 1891, or any of the Machinery Acts since that 
date, operate as an amendment of the Railroad Commission Act? 

The Machinery Act of 1891 went into operation 9th March. The Railroad 
Commissioners Act went into operation 1st April. It would be somewhat of an 
anomally if an amending act should precede the act amended. 

The Railroad Commissioners Act of 1891, chapter 320, is entitled "An Act for 
the general supervision of railroads, etc., doing business in the State of North 
Carolina." The enactments of the act follow closely its title. The Machinery 
Act does not in term.s add to the duties of the Railroad Commission, but it 
declares that the Commissioners elected upon that Commission shall constitute 
a board of appraisers and assessors. The act provides a mode of assessment 
of all kinds of property, and designates the several classes of persons by whom 
such assessmnet shall be made. When it comes to railroad property it creates 
a board composed of the individuals elected to the Railroad Commission for a 
specific purpose, the appraisement and assessment of the railroad property. 

The General Assembly at the same session had before it the bill providing 
for the supervisioi! of railroads and other corporations, and also the Machinery 
Bill. They were ratified on the same day, and must have been considered about 
the same time. Entering minutely and in detail, and at general length into 
the duties of the Railroad Commission, not one word is said as to the assess- 
ment of railroad property for taxation. Nor does the Machinery Act intimate 
any intent to amend the Railroad Act. If that had been the intent of the 
Machinery Act of 1891, and if it did m fact amend the Railroad Commissioners 
Act, why did the General Assembly deem it necessary each session thereafter to 
repeat the same provision in each Machinery Act? 

Chapter 320, Acts of 1891, was a permanent act; once amended it would 
remain so until the will of the Legislature changed. Yet we see the same pro- 
vision repeated session after session in the same words, evidently the mind of 
the Legislature, recognizing that the Machinery Act was a temporary act, making 
provision for the occasion and not intended to affect general legislation. This 
view is strengthened by the course pursued by the Legislature when it desired in 
terms to amend the act. In 1897 was passed chapter 206, entitled "An Act to 
amend chapter 320, Laws of 1891, establishing a Railroad Commission." The 
title shows the purpose of the act; its several sections made important changes 
in it, and not one word is said of this grave power of appraisement and assess- 
ment of railroad property. 

The North Carolina Corporation Commission Act goes into an exhaustive 
declaration of the powers and duties of the Commission with respect to railroads. 



168 N. C. CORPORATION COMMISSION. 

Not satisfied with this declared enumeration of these duties, it in general terms 
declares that it shall perform all the duties and exercise all the powers imposed 
or conferred by chapter 320 of the Public Law^s of 1891, and acts amendatory 
thereto. This act was ratified 6th of March, 1899. Surely if the General 
Assembly intended that the Corporation Commission should act as a board of 
appraisers and assessors, as well as a board of supervisors of railway property, 
it would scarcely have omitted this among the other duties of the Commission, 
and if it supposed that the provisions of the Machinery Acts had amended 
chapter 320, it would not have passed two days after the ratification of th« 
Corporation Commission Act, a Machinery Act constituting the Commissioners 
elected from time to time under the authority of an act to provide for the gen- 
eral supervision of railroad, steamboat or canal companies, express and tele- 
graph companies, doing business in the State of North Carolina, a board of 
appraisers and assessors for railroad, telegraph, canal and steamboat com- 
panies. 

There is another consideration. The act to establish the North Carolina Cor- 
poration Commission, though ratified 6th of March, 1899, did not go into effect 
until from after the 5th of April, 1899. By an act ratified the same March 6, 
1899, the General Assembly declared that chapter 320, Public Laws of 1891, and 
all acts amendatory thereof and supplementary thereto, be and they are hereby 
repealed. This act was of force from and after April 4, 1899. It repeals in toto 
every provision of the Act of 1891, and all acts, not only amendatory thereof, but 
supplementary thereto. So when the Corporation Commission Act speaks as 
of the day it was of force, the subdivision 23, section 2, of the act referred to a 
law which had been repealed in toto. 

It is impossible, after examining the acts of the General Assembly of 1890, 
to escape the conclusion that in the mind of that body, the special board for the 
appraisement and assessment of the railroad property was constituted of the 
three persons who had been elected or appointed Railroad Commissioners. W« 
have seen the provision of the Machinery Act of that year adopted, notwith- 
standing that the institution of the Corporation Commission had been determined 
upon. So in chapter 11, of that year, the Revenue Act, sections 41, 42, 43 and 44, 
Railroad Commissioners alone are instructed with regard to the appraisement 
and assessment of railroad property. That act was ratified and was of forc« 
March 8, 1899. And in section 60 of the same act, the power to revise the assess- 
ment for taxation of railroad property is given to the Railroad Commission or 
any body succeeding to their powers. The act creating the Corporation Commis- 
sion had been ratified two days before this act. If the General Assembly 
intended that Commission in the words "any body succeeding to their powers," 
is it not reasonable to suppose that it would have said so, and would not have 
left it to inference only? 

So, also, chapter 687 of the Laws of 1899 authorizes the Railroad Commission, 
the Corporation Commission, or such board as shall succed to their duties, to 
assess property which has escaped taxation. This act was ratified and was of 
force 8th March, 1899. It recognizes the existence of the Railroad Commission 
and of its powers, and leaves to inference entirely the idea that one is sub- 
stituted for the other. If no other act creates the Corporation Commission into 



COMPLAINTS AND DPZCISIONS. 169 

a board for the appraisement and assessment of railroad property, this act can 
not do so by indirection. 

It must be borne in mind that the legislation now under discussion is not 
remedial legislation. In all such cases courts labor to arrive at the beneficent 
intent of the legislation and seek to secure its full effect. (Commonwealth v. 
Kimball, 24 Pick., 37, and cases collected in 23 Am. and Eng. Snc. of Law, 309, 
362, 24 Idem, 358.) We are construing statutes imposing taxes and burdens on 
the taxpayer. In all such the rule is changed. "The highest power that a 
sovereign, the law-making power, can confer is the pov/er to tax, and every act 
conferring that power must express it plainly, and the act so expressing it must 
be strictly construed." Sutherland on Statutory Construction, 459, etc. 

In every case of doubt such a statute is construed against the government. 
U. S. V. Wigglesworth, 2 Story, 369. 

Says Lord Chancellor Cairms, in Parlington v. Attorney-General, L. R. 4, H. L , 
100, 122: "As I understand the principle of all fiscal legislation is this: If the 
person sought to be taxed comes within the letter of the law, he must be taxed, 
however great the hardship may appear to the judicial mind to be. On the other 
hand, if the Crown seeking to recover the tax can not bring the subject within 
the letter of the law, the subject is free, however apparently within the spirit 
of the law the case might otherwise appear to be. In other words, if there is 
admissible in any statute what is called an equitable construction, certainly such 
a construction is not admissible in a taxing statute when you can simply adhere 
to the words of the statute." 

See also U. S. v. Wigglesworth, 2 Story, 369 ; Net & Twine Co. v. Worthington, 
141 U. S., 474; Rice v. The U. S., 53 Fed. R. 910. 

On the whole the conclusion can not be resisted that either intentionally or 
accidentally the Corporation Commission was not clothed with the power of 
appraising and assessing railroad property, and that their attempted action 
herein complained of is without authority of law. 

It is to be regretted that this conclusion renders unnecessary the discussion 
of the merits of this case, presented so ably and fully by counsel on both sides. 
The conclusion reached, whilst it stops the hand of the Court now, simply post- 
pones the decision on the grave questions underlying the cases. This postpone- 
ment, however, will not operate to excuse the complainants from the payment of 
taxes. Under Russell v. Ayer No. Co., 180, 189, the provisions of the Revenue 
Act of 1897 are in full force and the taxes therein provided must be paid. 

Let the injunctions issue as prayed for in each bill. 

Charles H. Simonton, 

November 3, 1899. Circuit Judge. 



Petition for a Rehearing. 

The following is the petition of counsel for the Commission for a rehearing: 
Your petitioners, the defendants above named, respectfully request that this 

Honorable Court will grant to them a re-argument or rehearing of the above 

entitled cases on the following grounds: 

1. That on the 10th day of July, 1899, the complainants above named, 
1 ]2 



170 N. C. CORPORATION COMMISSION. 

respectively, filed their bills of complaint herein, asking for a perpetual injunc- 
tion restraining the defendants from further proceedings in the assessment and 
levying and collection of certain taxes, and also for a preliminary injunction 
until the hearing. 

2. That on the 17th day of July, 1899, this Honorable Court granted in each 
case a restraining order and an order to show cause why an injunction as prayed 
for in said bills should not be granted until the final hearing of the said causes 
respectively. 

3. That on the 13th day of September, 1899, the return day of the said orders 
to show cause, the defendants appeared before this Honorable Court, at Cham- 
bers in Asheville, N. C, and made a return to said orders to show cause, and 
filed affidavits to support it, the complainants filing counter affidavits; and by 
consent all of said causes were heard together, and after argument of counsel 
for both sides the Court reserved its decision. 

4. That on November 4, 1899, the Court filed in the office of the clerk of this 
court the opinion in all of said suits, a copy of which is hereto annexed and made 
a part thereof. 

5. That said opinion sustained the jurisdiction of this Court, and held that 
the Corporation Commission had no power under the statutes of North Carolina 
to assess railroad property for taxation, and directed injunctions to issue as 
prayed for, but did not indicate whether they should be perpetual or simply until 
the hearing. Your petitioners are advised that the opinion contemplated the 
interlocutor}^ orders, granting the injunction till the hearing, should be drawn 
by the complainants and presented to the Court and be signed and entered in 
each case. 

6. That no orders of any character have been drawn by the counsel or signed 
by the Court and entered in the said suits or any of them. And that as your 
petitioners are advised and aver, the question of the awarding of an injunction 
till the hearing, or a modification of its opinion in the premises, is within the 
absolute control of this Honorable Court. 

7. That this Honorable Court in said opinion construed and interpreted cer- 
tain acts of the General Assembly of North Carolina, to-wit: the "Act to provide 
for the general supervision of railroads, steamboats or canal companies, express 
and telegraph companies, doing business in the State of North Carolina," rati- 
fied March 5, 1891: the Revenue and Machinery Acts of 1899; the "Act to repeal 
the Railroad Commission," ratified March 6, 1899; the "Act to establish the 
North Carolina Corporation Commission," ratified March 6, 1899; and the "Act 
to authorize the Railroad Commission, the North Carolina Corporation Com- 
mission, or such board as shall succeed to their duties, to assess property which 
has escaped taxation," ratified March 8, 1899, and held in effect that the North 
Carolina Railroad Commission had been abolished, and that the North Carolina 
Corporation Commission, a distinct body, was not clothed with the power of 
appraising and assessing railroad property, and that its attempted action in 
the premises was without authority of law. 

8. That since the said opinion was filed herein the Supreme Court of North 
Carolina, in the case of the State on the relation of D. H. Abbott v. B. C. Bed- 
dingfield, has construed and interpreted the same statutes, and has held that the 



COMPLAINTS AND DECISIONS. 171 

Railroad Commission, having the power to assess railroad property for taxation, 
has not been abolished, but that its name has been changed to that of the North 
Carolina Corporation Commission; and that the said Corporation Commission is 
vested with all powers of the Railroad Commission, including the power to 
assess railroad property for taxation. The Court accordingly adjudged that 
D. H. Abbott, the plaintiff's relator, is a member of the Corporation Commission 
and must be restored to such office. 

9. That if the opinion of this Honorable Court should be adhered to, it would 
appear that the bills of complaint can not be entertained by this Honorable 
Court. This court has jurisdiction of such of said bills as have been filed by 
domestic corporations only on the ground that the threatened action of the cor- 
poration is in violation of the Fourteenth Amendment of the Constitution, But 
the amendment forbids only State action, and not the action of individuals or 
officers of the State who act officiously and v/ithout any warrant of law. That 
according to the said bills of complaint and the opinion of this Honorable Court 
these officers are not empowered even by color of law to assess railroad property 
for taxation, and are not the agents or instrumentalities of the State in this 
behalf, and therefore it can not be said that the State is about to deny the 
complainants the equal protection of the laws so as to raise a Federal question. 

10. That the several bills of complaint herein are* without any equity, for that 
both at common law and under section 78, chapter 15, of the laws of North 
Carolina, entitled "An Act to provide for the assessment of property and the 
collection of taxes," ratified March 8, 1899, the complainants have an adequate 
remedy at law. That the said section provides as follows: 

"No injunction shall be granted by any court or judge in the State to restrain 
the collection of any tax or any part thereof thereafter levied, nor to restrain 
the sale of any property for the non-payment of any such tax, except such tax or 
the part thereof enjoined be levied or assessed for an illegal or unauthorized 
purpose or be illegal or invalid, or the assessment be illegal or invalid, nor shall 
any person be permitted to recover by claims and delivery, or other process, any 
property taken or distrained by the sheiff or any tax collector for the non- 
payment of any tax, except such tax be levied or assessed for an illegal or 
unauthorized purpose, but in every case the person or persons claiming any tax 
or any part thereof to be for any reason invalid, or that the valuation of the 
property is excessive or unequal, who shall pay the same to tax collector or other 
proper authority, in all respects as though the same was legal and valid, such 
person may at any time within thirty days after such payment demand the same 
in writing from the Treasurer of the State, or of the county, city or town for 
the benefit or under the authority or by the request of which the same was 
levied; and if the same shall not be refunded within ninety days thereafter, 
may sue such county, city or town for the amount so demanded, including in his 
suit against the county both State and county tax; and if upon the trial it 
shall be determined that such tax, or any part thereof, was levied or assessed 
for an illegal or unauthorized purpose, or was for any reason invalid or excessive, 
judgment shall be rendered therefor, with interest, and the same shall be col- 
lected as in other cases, and the amount of State taxes overpaid or declared 
invalid certified by the clerk and refunded by the State Treasurer." 



172 N. C. CORPORATION COMMISSION. 

That in the absence of any allegation in the bills of complaint of inability on 
the part of the complainants to pay the said taxes and sue for their recovery, 
they had an adequate remedy both at common law and by statute enforceable in 
this court, and no case of irreparable injury is presented. 

11. That the several bills of complaint do not disclose the facts upon which 
the Court can perceive that there will result from tne collection of the taxes 
in question such a multiplicity of suits as will authorize a removal to a court 
of equity. That in several of the cases the suits to recover the taxes will be 
few in number, and the decision of one will be virtually the determination of 
them all. That in the small towns along their lines the taxes to be raised will 
be so small as for the purposes of this question to come under the maxim, 
"(Ze minimis lex non curate 

12. That these suits do not present such a case of threatened cloud upon title 
as will justify a court in interfering in the collection of the revenues of a State, 
as it nowhere appears that the railroad companies can not, without incon- 
venience, pay the excess of taxes involved and recover the same in action at law, 

13. That these views were not presented to the Court at the former hearing. 
Wherefore, upon the foregoing grounds, your petitioners respectfully pray this 

Honorable Court to grant to them a re-argument and a rehearing of said cause. 

H. G. Connor. 
Simmons, Pou & Ward, 
John W. Hinsdale, 
J. C. L. Harris, 
C. A. Cook, 
Solicitors for the Defendants. 

We, James H. Pou, John W. Hinsdale, of counsel for the defendants herein, 
do hereby certify that in our judgment the foregoing petition for a re-argument 
and a rehearing is well founded, and that the same is not interposed for delay. 

John W. Hinsdale, 
James H. Pou. 
Pending. 



Valuation and Assessment for Taxation of the 
Property of the Western UnioQ Tele- 
graph) CorT)pany. 



The North Carolina Corporation Commission having valued and assessed for 
taxation the property of the Western Union Telegraph Company for the year 
1899 at $1,000,000, the said company filed its bill of complaint against the Com- 
mission and others, for the purpose of enjoining the enforcement and collection 
of taxes upon an alleged illegal and excessive assessment of its property in 
North Carolina, as follows: 



CIRCUIT COURT OF THE UNITED STATES.— EASTERN 
DISTRICT OF NORTH CAROLINA.— IN EQUITY. 



Bill. ~ . 

western union telegraph company 

vs. 
NORTH CAROLINA CORPORATION COMMISSION, FRANKLIN McNEILL, 
CHAIRMAN, SAMUEL L. ROGERS, E. C. BEDDINGFIELD, COMMIS- 
SIONERS, H. C. BROWN, CLERK TO SAID COMMISSION; H. W. AYER, 
AUDITOR, AND W. H. WORTH, TREASURER, OF THE STATE OP 
NORTH CAROLINA. 

To the Honorable, the Judges of the Circuit Court of the 

United States for the Eastern District of North Carolina: 
The Western Union Telegraph Company, a citizen of the State of New York, 
brings this, its bill of complaint, against the North Carolina Corporation Com- 
mission, Franklin McNeill, Chairman, Samuel L. Rogers and E. C. Beddingfield, 
Commissioners, H. C. Brown, Clerk to said Commission; H. W. Ayer, Auditor, 
and W. H. Worth, Treasurer, of the State of North Carolina, and thereupon 
your orator complains and says: 

1. That your orator is a telegraph company, duly incorporated, organized and 
existing under and pursuant to the law of the State of New York, by and under 
the corporate name of Western Union Telegraph Company. That the principal 
office and place of business of your orator is in the city, county and State of 
New York, and your orator is a citizen of said State. 

2. That the defendants are citizens and residents of the State of North Car- 
olina, and are the North Carolina Corporation Commission of North Carolina, 



174 N. C. CORPORATION COMMISSION. 

which was created and organized and exists by, under and pursuant to an act 
of the General Assembly of the State of North Carolina, entitled: "An Act to 
establish the North Carolina Corporation Commission", ratified the 6th day of 
March, A. D., 1899, and H. C. Brown, Clerk of said Commission, and H. W. Ayer: 
Auditor, and W. H. V/orth, Treasurer of the State of North Carolina. It was 
provided that the said North Carolina Corporation Commission should be 
created and constituted a court of record of the State of North Carolina inferior 
to the Supreme Court, and said Commission, Auditor, and Treasurer, have their 
offices in the city of Raleigh, North Carolina, which is in the Eastern District 
of the State of North Carolina. 

3. That by an act of the General Assembly of North Carolina, ratified March 
4, A. D., 1899, the Board of Railroad Commissioners for the State of North 
Carolina was abolished. 

4. That on the 8th day of March, A. D., 1899, an act of said General Assembly, 
passed according to law, was ratified, entitled, "An Act to Raise Revenue," 
wherein and whereby the said Board of Railroad Commissioners was given power 
and authority to assess the value of the property for taxation of the said Western 
Union Telegraph Company and the said Board of Railroad Commissioners having 
been abolished, as aforesaid, the said North Carolina Corporation Commission, 
did on the 13th day of July, A. D., 1899, unlawfully attempt to assess such 
value, and adjudged the same to be the sum of one million dollars, and are now 
unlawfully seeking to force the said Western Union Telegraph Company to pay 
a tax upon said sum. 

5. That in addition to the aforesaid unlawful assumption of power by the 
said North Carolina Corporation Commission, the said North Carolina Corpora- 
tion Commission are violating the authority under which it assumes to act, 
to-wit: the said act ratified by said General Assembly of North Carolina on 
March the 8th, A. D., 1899, entitled, "An Act to Raise Revenue," in that said 
Corporation Commission in attempting to arrive at the valuation of the prop- 
erty of said company for taxation, under the report furnished to the Auditor of 
the said State under said "An Act to Raise Revenue," (a copy of said report is 
hereto attached as Exhibit "A", and asked to be deemed and taken as a part 
thereof), has not considered: 

(a.) That the actual value of the said company's stock does not exceed sixty- 
five million dollars. 

(b.) That there should be deducted therefrom, not only the value of the 
specific real estate owned by said company outside of the State of North Caro- 
lina, but also the further sum of fifteen million dollars of its capital stock 
invested in stocks and bonds of other companies, which said stock and bonds 
might readily be sold without in any manner affecting the conduct of its 
telegraphic operations. 

6. That the said Corporation Commission in estimating the value of the prop- 
erty of said company for taxation, took the total number of shares of stock out- 
standing, and estimated the value thereof from the price a few of said shares 
may have been sold for at various times, and using this as proof of the value 
of the entire property, added thereto the amount of money due by said com- 
pany under mortgage; and in that manner unlawfully increased the valuation 
of the said company's property for taxation in the State of North Carolina. 



COMPLAINTS AND DECISIONS. 175 

7. That in arriving at said valuation of one million, it was the intention of 
said North Carolina Corporation Commission to assess the property of said 
company for taxation in North Carolina at its full value, whereas according to 
a well-known and long-established custom, other property of whatever kind is 
assessed for taxation in the State of North Carolina at a valuation of not 
exceeding two-thirds of its actual value, and if said North Carolina Corporation 
Commission had the assumed authority to act, it had no right or power to 
assess the property of said company at its full value while other property is 
assessed at not exceeding two-thirds thereof. 

8. That if the said North Carolina Corporation Commission had the power 
to assess the valuation of the property of said company under the said "An Act 
to Raise Revenue," yet it has no power or authority to assess said property for 
taxation at one million dollars, in that it has therein assumed the market 
value of the whole amount of stock to be, approximately, eighty million dollars, 
has thereto added the amount of money due on said mortgages, and after 
deducting the value of the company's real estate situated outside of the State 
of North Carolina, it has attempted to arrive at the unit value of the entire 
property, and concludes that the property taxable in North Carolina is such 
proportionate part thereof as the number of miles of wire in North Carolina is 
the proportionate part of the number of miles of wire in the entire system 
operated by said company; that such is a taxing in North Carolina of property 
taxable in other States, in that the property of said company in North Caro- 
lina is not worth as much per mile of wire, and upon this method of calculation, 
as it is worth per mile of wire upon an average throughout its entire system 
within the United States, and that therefore said assessment is void and illegal. 

9. That the said company introduced in evidence before said Commission 
when it was passing upon said question of taxation, the following uncontra- 
dicted testimony, to-wit: The average profits per mile per annum throughout 
its entire system in the United States is $6.96; that the number of miles of wire 
in its said system is, according to the said report filed with the State Auditor of 
North Carolina, 889,114 miles; that the number of miles of poles and one wire, 
and the number of miles of wire in excess of one wire, together amount to 
12,945 ; that the net profits on all business, domestic and interstate, derived from 
the State of North Carolina was $15,000, or $1.20 per mile of wire per annum; 
that applying the earning per mile of wire per annum in North Carolina to the 
entire system in the United States it would make the earnings upon the said 
entire system something over one million dollars, as against the actual earning 
of about six million dollars, out of which the interest on mortgages and like 
expenditures are paid, leaving a dividend to stockholders of about 5 per cent on 
the par value of the stock. That the said Commission refused to consider such 
testimony, and, contrary to the Constitution of the State of North Carolina, and 
of the United States, and contrary to said act itself, wrongfully held as a question 
of law that said "An Act to Raise Revenue," directed them to assess said valua- 
tion in the manner set forth in the next proceeding paragraph. 

10. That the said Commission did not take into consideration that under the 
laws of the State of North Carolina, the said company is taxed two per centum 
upon its receipts in North Carolina, and the said valuation is therefore illegal 
and void. 



176 N. C. CORPORATION COMMISSION 

11. That if the said "An Act to Raise Revenue" attempted to value the 
property of the said company for taxation under the method set forth in para- 
graph eight hereof, without talking into consideration that the said company by 
said act is taxed an additional two per cent per annum upon its gross receipts 
within the State of North Carolina, the said act is unconstitutional and void. 

12. That the property of the said company was immediately prior to this time 
valued for taxation by the Railroad Commissioners of North Carolina at $750, 
000, under the earnest protest of the said company tnat the same should not 
have been valued at more than $500,000, and that the value of the property of 
said company has not increased since the valuation of $750,000 was made. 

13. That the amount of taxes that said company will have to pay, and in 
excess of what it has heretofore been required to pay, is more than two 
thousand dollars per annum, exclusive of interest and costs. 

14. The said valuation of the company's property is unconstitutional and void: 
(a.) It is in contravention of article 5, section 3, of the Constitution of 

North Carolina, in that it is not a taxation by a uniform rule, and a taxing of 
an income v/hen the property from which the income is derived is taxed. 

(b.) It is in contravention of the Fourteenth Amendment to Constitution of 
the United States, in that it abridges the privileges and immunities of said com- 
pany, it deprives said company of its property without due process of law, 
and denies to it the equal protection of the laws. 

15. That if said "An Act to Raise Revenue" directed the said Commission to 
assess the property of said company for taxes according to the manner set forth 
in paragraph eight hereof, the said act was in contravention of article 5, section 
3, of the Constitution of the State of North Carolina, and of the Fourteenth 
Amendment to the Constitution of the United States. 

16. That under the taxing laws of North Carolina, the Railroad Commission, 
when it shall have determined the value of telegraph property of the complain- 
ant, are required to certify to the Chairman of County Commissioners, and the 
Mayor of each city or incorporated town, the amount appointed to his county, 
city or town, and also make and forward a like certificate to the Auditor of the 
State. 

17. That as this complainant is informed and believes, the said Corporation 
Commissioners, Franklin McNeill, Chairman, Samuel L. Rogers, B, C. Bedding- 
field, are preparing to make these said certificates to the said chairmen of the 
several Boards of County Commissioners, and Mayors of the several cities and 
towns, as apportioned; and that to that end, the said respondent, H. C. Brown, 
Clerk, is engaged in the work; that the said respondent, H. W. Ayer, Auditor of 
State, is preparing to make his certificates as the law requires; and Treasurer, 
the said W. H. Worth, will proceed under the taxing laws of the State to insti- 
tute actions, to enforce the payment by this complainant of the amount of the 
taxes certified to be due, as aforesaid, unless restrained by the order of this 
Court from doing so. 

And your orator avers that all of said acts of defendants so done and as 
threatened as aforesaid, and which defendants will do unless restrained by 
order of this Honorable Court, as your orator verily believes, are contrary to 
equity and good conscience, and tend to the manifest wrong, injury and oppres- 
sion of your orator in the premises. 



COMPLAINTS AND DECISIONS 177 

In consideration whereof, and for as much as your orator is entirely remedi- 
less in the premises according to the strict rules of the common law, and can 
have only relief in a court of equity where matters of this kind are cognizable 
and relievable; and for as much as your orator is ready and willing to pay its 
uniform and equal taxation, according to law: 

Wherefore, your orator prays that the said defendant be enjoined and 
restrained as follows: 

1. The said Corporation Commissioners, and their Clerk, H. C. Brown, from 
making the said certificates to the said chairmen of the several Boards of 
County Commissioners and Mayors of the several cities and town. 

2. The said H. W. Ayer, Auditor of State, from making the said certificates. 

3. The said W. H. Worth from proceeding under the taxing laws of said State 
to enforce payment of said taxes by this complainant, as aforesaid. 

4. And for such other and further relief in the premises as to your Honors 
shall seem meet and agreeable to equity and good conscience; but answer under 
oath is hereby expressly waived by the said defendants and each of them, and 
your orator will ever pray, etc. 

(Signed) Robert C. Strong, 
Solicitor, and of Counsel for Complainant. 

State of Virginia, 

City of Richmond — ss. 

J. B. Tree, being duly sworn, says he is the Superintendent of the Western 
Union Telegraph Company, the complainant above named, and has read and 
knows all the contents of the foregoing bill, and that the same is true of his 
own knowledge, except as to those matters therein stated to be alleged upon 
information and belief, and that as to those matters he believes it to be true. 

(Signed) J. B. Tree, 

Superintendent. 

Sworn to before me this 24th day of July, 1899. 

(Signed) Alex W. Weddell, 
(Seal.) Notary Public in and for said City and State. 

Exhibit "A". 

New York. June 13, 1899. 
Hon. State Auditor, Raleigh, North Carolina. 

Dear Sir: In conformity with section 37 of the Revenue Act, ratified the 8th 
day of March, 1899, the Western Union Telegraph Company begs leave to state 
with reference to the 31st day of December, 1899, as follows: 

1. The total capital stock authorized to be issued is $100,000,000.00 of which 
$97,370,000.00 has been issued, but of this latter amount $28,800.00 belongs to 
and is in the treasury of the said company, so that the amount properly outr 
standing is $97,341,200.00. 

2. The number of capital stock issued and outstanding is 973,412 shares, and 
the par of face value of each share is $100.00. 

3. Its principal place of business is in the city of New York, 195 Broadway, in 
said city. 



178 



N. C. COEPORATION COMMISSION. 



4. The company does not know the market value of said shares of stock on 
the 31st day of December, 1898, and urges that it would be both inequitable and 
unjust to value the entire 973,412 shares at the price at which a few shares may 
have been sold on that or any other day, because the larger the lot, the lower 
the price, and therefore the company protests that the entire 973,412 shares for 
purposes of taxation should not be valued at over $65,000,000.00. 

5. The real estate, structures, machinery, fixtures, and appliances owned by 
said company and subject to local taxation within the State of North Carolina, 
are as lollows: 

3,171.87-100 miles of poles and one wire $97,685.27 

9,773.03-100 miles of wire in excess of one 89,615.77 

Value of instruments, batteries, etc 9,727.51 

Total value of all property of the company in N. C 197,028.55 

The location and assessed value thereof in each county where the same is 
assessed for local taxation is as fully shown as possible in the schedule hereto 
attached. 

6. The specific real estate, together with the permanent improvements thereon, 
owned by such company outside the State of North Carolina and not directly 
used in the conduct of the business, with a specific description of each such 
piece, where the same is located, and the purpose for which the same is used, 
and the sum at which the same is assessed in the locality where situated, is 
as follows: 



Description and Location. 



195 Broadway, New York City - . 

Chicago, Illinois 

Twenty-third street. New York 

Broad street, New York City 

Philadelphia, Pennsylvania 

Fifty-fifth street. New York — abandoned cable 

landing. 
Various other cable landings and small properties. 

Total specific real estate outside North Carolina . 



Purpose for 
Which Used. 



Office building. 

. . do 

...do 

...do 

...do 



Cost. 



|2, 823. 039. 53 

1,666,207.10 

202,524.74 

191,518.77 

30, 866. 67 

20, 384. 43 



42, 492. 51 



4, 977, 033. 74 



These properties are assessed as other line properties similarly situated. 
7. All mortgages upon the whole or any part of its property, together with the 
dates and amounts thereof, are as follows: 

On 195 Broadway, New York, dated May 1, 1872 $1,163,000.00 

On annex to 195 Broadway, dated March 28, 1881 27,500.90 

Total 1,190,500.90 

8a. The total length of the lines of the said company is 889,114 miles. 
8b. The total length of so much of its lines as is outside the State of North 
Carolina, is 876,169 miles. 



COMPLAINTS AND DECISIONS. 179 

8c. The length of the lines within each of the counties, cities, towns and town- 
ships, so far as the same could be ascertained, will be found in the schedule 
hereto attached. 

9. The company begs to further state that it is the owner of shares of stock 
and bonds of other corporations whose properties are not a part of the telegraph 
system of this company. The actual and market values of the capital stock of this 
company is enhanced by the ownership of such shares and bonds and by the 
dividends and interest derived therefrom, but the said shares and bonds are not 
a part of the telegraph system of the company nor are they merged into the 
unit of property with which this company carries on its telegraph business, but 
might be sold and its telegraph business carried on as effectually as now. 

This company has invested more than $20,000,000.00 of its capital in stock and 
bonds of other companies and verily believes that the amount thereof which it is 
equitably and legally entitled to have deducted before the application of the 
mileage ratio, will not be less than the sum of $15,000,000.00. 

(Signed) Western Union Telegraph Company. 
J. B. Tree, Superintendent. 

Duly verified. 

A true copy. 

Teste: 

(Seal.) N. J. RiDDiCK, 

July 28, 1899. Clerk. 



Order. 

Hearing the complaint of the Western Union Telegraph Company duly verified, 
and considering the same, it is ordered that the defendants, the North Carolina 
Corporation Commission, Franklin McNeill, Chairman, Samuel L. Rogers and 
E. C. Beddingfield, Commissioners; H. C. Brown, Clerk; H. W. Ayer, Auditor, 
and W. H. Worth, Treasurer of the State of North Carolina, and each and every 
of them, do show cause before me at Asheville, North Carolina, at the United 
State Court House, on the 13th day of September next, at 10 o'clock a. m., or as 
soon thereafter as counsel can be heard, why the injunction prayed for in the 
complainant's bill should not be granted. In the meantime and until further 
order of this Court it is ordered that the defendants, and each and every of 
them, be restrained, that is to say, the said Corporation Commissioners and their 
Clerk from making the certificates complained of to the chairmen of the several 
Boards of County Commissioners, and Mayors of the several cities and towns; 
said H. W. Ayer, Auditor of the State, from making the said certificates; said 
W. H. Worth from proceeding to enforce payment of the taxes by complainant. 

It is further ordered that the said complainant at the proper time for the pay- 
ment of taxes will pay to the proper officers of the State, counties and munici- 
palities taxes upon its said property at an assessed value of six hundred thousand 
dollars, without prejudice to either complainants or defendant. It is further 
ordered that the complainant do within five days from the entry of this order 
enter into bond to the defendants in the penal sum of five thousand dollars, the 



180 N. C. CORPORATION COMMISSION. 

surety to be approved by tbe clerk of this court, with the condition to pay all 
such damages as the defendants may incur if the restraining order herein passed 
be unlawfully granted. 

(Signed) Charles H. Simonton, 

July 26, 1899. Circuit Judge. 

A true copy. 

Teste : 

(Seal.) N. J. RiDDiCK, 

July 28, 1899. Clerk. 



Answer. 

The joint and several answers of the North Carolina Corporation Commission, 
Franklin McNeill, Chairman, Samuel L. Rogers and E. C. Beddingfield, Henry 
C. Brown, Clerk, and Hal W. Ayer, Auditor, to the bill of complaint herein. 

These defendants, now and at all times saving and reserving unto themselves 
and each of them all benefit and advantage of exception which can or may be 
had or taken to the errors or uncertainties or other imperfections in said bill of 
complaint, for answer thereto, or unto so much or such parts thereof as these 
defendants are advised is or are material or necessary for them or any of theia 
to answer unto, these defendants severally say as follows, answering say: 



They admit that the complainant is a telegraph company duly incorporated, 
organized a-nd existing under and pursuant to the laws of the State of New 
York, with its principal office and place of business in the city of New York, 
and that for jurisdictional purposes it is a citizen of said State. 

II. 

They admJt that the defendants are citizens and residents of the Eastern 
District of North Carolina. That Franklin McNeill, Samuel L. Rogers and E. C. 
Beddingfield are the North Carolina Corporation Commission, which was 
created, organized and exists by, under and pursuant to an act of the General 
Assembly of the State of North Carolina, entitled "An Act to establish the North 
Carolina Corporation Commission," ratified on March 8, 1899, and to go into 
effect on April 5, 1899; that Henry C. Brown is Clerk of said Commission; that 
W. H. Worth is Treasurer, and Hal W. Ayer is Audior of the State of North 
Carolina. 

III. 

They admit that on March 6th, A. D., 1899, the General Assembly of North 
Carolina duly ratified an act to repeal the Board of Railroad Commissioners with 
the express provision that the said act should take effect on April 4, 1899. 

IV. 

They allege that the Board of Railroad Commissioners for the State of North 
Carolina was created by an act entitled "An Act to provide for the general 



COMPI. MNTS AND DECISIONS 181 

supervision of railroads, steamboat or canal companies, express and telegraph 
companies doing business in the State of North Carolina," ratified on March 5th, 
A. D., 1891, being chapter 320 of the Public Laws of 1891, which prescribed and 
defined their duties. That said act was duly amended from time to time by acts 
which extended their duties and committed to them the assessment of the 
properties of railroad and steamboat, telegraph and other companies. That the 
last act which thus extended their duties was enacted on March 8, 1899, and is 
entitled "An Act to^ Raise Revenue," and is the same act which is referred to 
in paragraph four of the bill of complaint herein. That by this act the said 
Board of Railroad Commissioners, which was, at that time, in existence, iiot 
having been as yet abolished, were required to assess the value of the properties 
for taxation of railroad, telegraph and other companies, including the complain- 
ant herein. Section 60 of this act provides: 

"That for the purpose of raising revenue and equalizing taxation the Railroad 
Commission, or any body succeeding to their poioers, are hereby required a,!id 
directed, as soon as practicable and in time for the levy of 1899, to revise the 
assessments for taxation of the entire property of the State, and in doing so they 
should take into consideration the value of the franchise, the gross earnings and 
the net income of each road." 

And on the same day the said General Assembly enacted another act, in pari 
materia, entitled "An Act to authorize the Railroad Commission, the North Caro- 
lira Corporation Commission, or such board as shall succeed to their duties, to 
assess property which has escaped taxation," which in effect declares that the 
Corporation Commission of North Carolina is to succeed to the duties of the 
Railroad Commission in the matter of the assessment of the properties of rail- 
road, telegraph and other companies. 

That by section 2, subsection 23, of an act entitled "An Act to create the 
North Carolina Corporation Commission," and ratified by the said General 
Assembly on March 6, 1899, to go into effect on April 5, 1899, it was provided 
that the said Corporation Commission is hereby directed and empowered "To 
perform all the duties and exercise all the powers imposed or conferred by chap- 
ter three hundred and twenty (320) of the Public Laws of eighteen hundred and 
ninety-one and the acts amendatory thereto." 

That by virtue of these laws the said Corporation Commission succeeded to 
the powers and duties of the said Railroad Commission, and from April 5, 1899, 
were charged with the assessment for taxation of the properties of railroad, tel- 
egraph and other companies in the State of North Carolina. That by virtue of 
these acts, the defendant Corporation Commission did, on July 5, 1899, proceed 
lawfully to assess and value the property of the said complainant for taxation in 
this State at the sum of one million dollars, and on July 13, 1899, after due 
notice to the complainant, the said Corporation Commission heard and consid- 
ered the testimony and the objections of the complainant to the said assess- 
ment which are set forth in the bill of complaint herein. 



That as the defendants are advised and believe, and so aver, the defendant 
Corporation Commission in assessing the property of the complainant for taxa- 



182 N. C COKPORATION COMMISSION. 

tion in this State did not violate the said "Act to Raise Revenue," under and hj 
authority of which they assessed said property. 

That it is untrue as stated in paragraph five of the bill of com- 
plaint that the actual value of the said complainant's cap- 
ital stock of $97,341,200 does not exceed $65,000,000.00. The 
defendants allege that when said Corporation Commission first 
assessed the property of the complainant for taxation in North Car- 
olina, with the lights then before them, they valued the stock at 

$90 a share, aggregating $87,607,080 

and that to this it added the amount of the mortgage debts as 

reported by the complainant, to-wit 1,190,500 

making 88,797,580 

That from this sum it subtracted the value of complainant's real 
estate situated outside of the State as reported by it, to-wit 4,977,033 

83,820,547 

The complainant reported that it owned 889,114 miles of wire of which 12,945 
were located in the State of North Carolina. 

That upon a mileage basis, the said Commission ascertained the 

complainant's property in this State to be $1,023,167 

and so assessed it at 1,000,000 

They allege that upon the hearing on July 13, 1899, at which the complainant 
was represented by counsel, upon a full consideration of all the evidence intro- 
duced by it, and all of its objections to the assessment, and contentions of the 
complainant, the defendant Corporation Commission after a diligent investi- 
gation, unaided by the complainant, whose duty it was to inform it of the market 
value of the said stock, which was well known to it, ascertained that the said 
market value was $91.50 a share, aggregating $89,067,190 

That to this the Commission added the funded debt as then 
ascertained by them, to-wit 15,352,002 

making 104,419,200 

and deducted the aggregate of complainant's real estate situated 

without this State as reported by it 4,977,033 

leaving 99,442,667 

as the value of the unit profit-producing property of the complainant. 

That upon a mileage basis, according to the report of complainant, the value 
of its property liable to taxation was thus ascertained to be $1,447,779. 

That the defendants are advised and believe, and so aver, it was proper for 
them to consider the amount of the value of such funded indebtedness in arriv- 
ing at the value of the said plant, as this method of ascertaining the value of 
the property of such a corporation has been, as defendants are advised and 
believe, approved by the highest court in the land. 

That the said Commission did not deduct from the value of the whole plant 
the fifteen million dollars, the pretended value of stock and bonds of other 
companies, owned by the complainant, because: 



COMPLAINTS AND DECISIONS. 



183 



1. That there was no evidence of the value of said stocks and bonds before 
the Commission, and 

2. That said stocks and bonds consisted of the following items: 



Gold and Stock Telegraph Co 

International Ocean Telegraph Co 

New York Mutual Telegraph Co 

Mutual Union Telegraph Co 

Anglo-American Telegraph Co 

American District Telegraph Co., of Baltimore . 
American District Telegraph Co., of New York. 

American Speaking Telephone Co 

Boston District Telegraph Co 

Brooklyn District Telegraph Co 

Central District and Printing Telegraph Co 

Chicago and Mississippi Telegraph Co 

California State Telegraph Co 

Continental Telegraph Co 

Dominion Telegraph Co 

Delaware River Telegraph Co 

East Tennessee Telegraph Company 

Franklin Telegraph Co 

Gold and Stock Telegraph Co 

Gold and Stock Telegraph Co., of California 

International Ocean Telegraph C o _ 

Illinois and Mississippi Telegraph Co 

Lynchburg and Abingdon Telegraph Co . 

Michigan Telephone Co 

New York Telephone Co 

Ohio and Mississippi Telegraph Co 

Pacific and Atlantic Telegraph Co 

Put in Bay Telegraph Co . . 

Philadephia Local Telegraph Co 

Rochester District Telegraph Co . _ 

Southern Bell Telephone and Telegraph Co . 

Southei'n and Atlantic Telegraph Co 

Syracuse District Messenger Co 

Troy Telephone and Telegraph Co 

Vermont and Boston Telegraph Co 

Western Union Telegraph Co 

Washington and New Orleans Telegraph Co 

Kansas City N. W. R. R. Co 

Paris and Danville R . R . Co 

United States, 4 per cent 

Chicago and Northwestern Telegraph Co 



Number of 
Shares. 



10, 978 
19,615 
95,428 
Bonds 



37, 735 
4,114i 
12,075 

7,523 

500 

3,020 

2,500 

23,816 

5,268 

5,766 

1,311 

513 

6, 329 

14, 438 

3,010 

231 

2,007 

272 

1,936 

37, 364 

1,629 

58, 300 

16 

8,000 

3, 325 

3, 175 

15,619 

500 

821 

2, 395 

2.8 I 
10,632 



Par Value. 



$1,097, 

1,961, 

2, 385, 

3,043, 

0, 

188, 

411, 

1,207, 

188, 

12, 

362, 

125, 

2,381, 

131, 

288, 

32, 

25, 

632, 

1,443, 

301, 

23, 

100, 

27, 

193, 

3,736, 

81, 

1,457, 

200, 

33, 

317, 

390, 
5, 

82, 
119, 

28, 
531, 

o 

'-'? 

3, 

1, 

40, 



800.00 
500. 00 
700. 00 
000. 00 
343.00 
675. 00 
425.00 
500. 00 
075.00 
500. 00 
000. 00 
000. 00 
600.00 
700. 00 
300.00 
775.00 
650.00 
900.00 
800. (XI 
000.00 
100. 00 
350.(0 
200.00 
600.00 
400. 00 
450.00 
500.(0 
800. 00 
000. 00 
250.00 
500. 00 
475. 00 
000.00 
100. ( 
750. 00 
800.00 
600. 00 
oOO. 00 
000.00 
5(10.00 
000.00 



That as defendants are informed and believe, and so aver, these stocks and 
bonds were held by the complainant for the purpose of controlling and operat- 
ing the said several telegraph companies, just as if the said companies had been 
merged into the complainant corporation and made an integral part thereof. 
That the said complainant by means of said investments is the substantial owner 
thereof, and while they to a certain extent have enhanced the value of the 
complainant's stock, they are more than off-set by the funded indebtedness of the 
said complainant as above stated. 



184 N. C. CORPORATION COMMISSION. 

That as defendants are informed and believe, and so aver, it is untrue that 
said stocks and bonds might readily be sold without in any manner interfering 
with complainant's telegraphic operations. That if the said stocks and bonds 
were worth the sum claimed by complainant and had been deducted, it would 
have made no material change in the result. 

That at said hearing on July 13, 1899, the defendant Corporation Commission 
took into consideration all the testimony offered by the complainant, including 
the evidence as to the alleged profits received from business originating in North 
Carolina as com^pared with the percentage of profits over the entire line, although 
there was no evidence as to the value of the use of said line in North Carolina for 
the vast number of messages sent and transmitted through the State, and after 
considering the claim of the complainants for a deduction of $15,000,000 on 
account of stock and bonds of telegraph companies owned and operated by it, 
through the ownership of said stocks or bonds, although no evidence was offered 
of the value thereof, and made such an allowance as seemed to it proper and 
just on account of said claims and contentions and valued the complainant's 
property in North Carolina for taxation at $1,000,000. That the said Commis- 
sion then considered said assessment as reasonable and fair and just, and that if 
it erred at all it was in favor of the complainant. 

That as defendants are informed and believe, the said stock was really and 
intrinsically worth much more than the amount at which it was estimated. 
That from 1888 to the year 1897, its net profits after paying all expenses from 
operation has been: 

For the year 1888 $5,070,571.94 

For the year 1889 6,218,041.46 

For the year 1890 7,312,725.10 

For the year 1891 6,605,584.75 

For the year 1892 7,398,547.62 

For the year 1893 7,496,037.28 

For the year 1894 5,792,484.88 

For the year 1895 6,141,389.21 

For the year 1896 5,897,980.18 

For the year 1897 5,732,203.13 

62,665,665.55 
Being an average per year of 6,266,566.55 

That as defendants are informed, for the years 1898 and 1899, the average 
net receipts of the said complainants has been much larger than in the preced- 
ing years. 

That it owes a funded debt of $17,391,202.00 

Upon which it pays an annual interest of 672,138.10 

Leaving an average net profit each year of 5,694,328.45 

Which was sufficient to pay an annual dividend upon its stock 

of 5.82 per cent; from which it appears that the stock was worth 

actually and intrinsically above par. 

Value of stock ' 97,341.200.00 



COMPLAINTS AND DECISIONS. 18i 

If to this sum be added the value of the funded debt, par 

value, bearing an average interest at 6 per cent ?17,391,200.0O 

Add estimated premium 2,000,000.00 

Total 116,732,400.00 

Deduct real estate situated outside of the State 4,977,033.00 

Value of entire plant 111,755,367.00 

Upon a mileage basis the proportion of the said property sub- 
ject to taxation in North Carolina is 1,626,927.00 

All proper deduction claimed by the telegraph company would not reduce 
this amount below $1,000,000.00. 

VI. 

These defendants severally say, that they or any or either of them to their 
knowledge or belief of the others or either of them do not know and have never 
been informed by the complainant's said bill, and can not set forth as to their 
belief or otherwise, v/hether many or few shares of stock were sold at different 
times in the stock markets for the purpose of placing a fictitious value thereon, 
and they aver that such sales fairly made were proper to be considered by them 
in fixing the value of all of said complainant's stock, but thej^ allege that the 
defendant Corporation Commission estimated the value of the shares of the 
complainant, not only from the price at which the said stock sold on June 1, 
1899, and prior thereto in the principal stock markets of the country, but after 
a consideration of the net earnings of the complainant for many years and the 
past history of the company, which shows that it has had a career of wonderful 
prosperity from its inception. 

VII. 

That, while the Corporation Commission, in assessing railroad and telegraph 
properties in June, 1899, attempted to value the same fairly and liberally to the 
owners thereof, in view of all the facts and circumstances brought to its notice, 
It is not true that as a matter of fact it did assess such properties at their full 
value. 

That it is untrue that there is any well-known and long-established or general 
custom to assess property in the State of North Carolina other than that of 
railroad and telegraph companies at not exceeding two-thirds of its actual cash 
value. There was not, at the assessment of June, 1899, any agreement or under- 
standing on the part of the assessors throughout the State to assess farming: 
property in this manner, nor did there exist throughout the State any such rule 
of valuation. That in many counties in the State property is assessed so high: 
that it will not, upon an average, bring, at a fair public sale for cash, its tax; 
value. 

But these defendants further say, that even if there had been such rule of val- 
uation, it would have been contrary to the Constitution of North Carolina, and 
to the laws of North Carolina which require the assessors to assess all property 
at Its actual cash value; and it did not justify the defendant Corporation Com- 

1 13 



186 N. C CORPORATION COMMISSION. 

mission in violating the plain mandate of the law to assess the complainant's 
property at less than its actual cash value. 

VIII. 

The defendants deny that at the final hearing on July 13, 1899, the Corporation 
Commission ascertained the total value of the complainant's stock at $80,000,000 
and that it added thereto only the amount due on said mortgages, but that to 
the value of the stock as ascertained by the said Commission as $89,067,189, the 
funded debt of which included the mortgage debt, and added to the amount of 
real estate situated without the State was deducted therefrom. That in this 
manner it appeared that the whole property of the said complainant was 
$99,442,667. That it is not true that this sum was apportioned upon a strict 
mileage basis under which the property would have been assessed at over 
$1,400,000, but instead of this the Commission assessed the property in North 
Carolina at only $1,000,000. 

That as defendants are advised and believe, and so aver, the defendant Com- 
mission had the power and authority to assess the said complainant's property- 
at one million dollars, and in the manner in which it did assess the same as 
hereinbefore explained. That it made all due allowances upon the conten- 
tions of the complainant that the property in North Carolina was not worth as 
much per mile as it is worth upon an average throughout its entire system, 
taking into consideration that all of its wires were used as an entire and indivis- 
ible whole, and that as a part of such system the wires in North Carolina 
enhanced the value of its wires elsewhere, and that they are used for through 
business beginning and terminating in other States, the amount of which did 
not appear in the complainant's evidence. That upon a careful review of all 
these facts and circumstances together with others, the Commission made what 
it deemed to be a fair and just valuation of the complainant's property in North 
Carolina, and the defendants insist that such valuation so made is conclusive. 

IX. 

That it is true that there was some evidence before the defendant Commission 
as to the total net profit made by the complainant throughout its entire system 
and also of the amount of net profits which it made from business originating in 
North Carolina, but there was no evidence of the profits from business in trans- 
mitting messages through the State. That it is also true that it appeared from 
the complainant's report filed with the State Auditor of North Carolina, that the 
complainant owned 889,114 miles of wire in its entire system, and that the 
number of miles of wire in North Carolina was 12,945. That in making the 
said assessment at the final hearing, the said Corporation Commission took into 
consideration all the complainant's evidence and its claim that its stock should 
not be assessed so high as $91.50 a share, but that it was worth in the aggre- 
gate only $65,000,000; also its claim that only the mortgage debt and not the 
funded debt should be included; also its claim that $15,000,000, the alleged 
value of the bonds and stocks owned by it, should be deducted, and also its 
claim that its lines outside of the State of North Carolina was worth a greater 
sum per mile than its line within the State, and that, after due consideration of 



COMPLAINTS AND DECISIONS. 187 

all these matters, and after making proper allowances therefor, it assessed the 
said property in North Carolina at $1,000,000 instead of at a much larger sum, 
which seemed justified by the data before the Commission. That it made such 
allowances on this account as seemed proper, in accordance with the laws under 
which it acted, which authorized the said Commission to ascertain the cash value 
from the statement or report of the complainant which the law required it to 
furnish as well as otherwise, that is, from other proper data obtained from other 
sources, and in accordance with the law which directed the said board to 
"assess the true cash value of the property of the corporation in the State of 
North Carolina by taking as a guide as far as practica'ble. the mileage basis. 
That it is untrue that the said Commission held as a question of law that said 
"Act to Raise Revenue" directed it to assess the said property in the manner 
set forth in the eighth paragraph of the bill of complaint, or that the property 
was so assessed. That except as herein admitted the allegations of paragraph 
eight of the bill of complaint are denied. 



It is true that the Commission did not take into consideration that under the 
laws of North Carolina the complainant is taxed two per centum upon its 
receipts, for the reason that whether said tax be valid or not under the inter- 
state commerce clause of the Constitution or otherwise, it was not a matter 
of which the Commission was required, or had the right, to take cognizance, 
being an independent tax, which was levied upon telegraph and other com- 
panies in this State. 

XI. 

That the eleventh paragraph of the bill of complaint which states a legal con- 
clusion, to-wit, "That if the said 'An Act to Raise Revenue' attempted to value 
the property of the said company for taxation under the method set forth in 
paragraph eight thereof without taking into consideration that the said com- 
pany by said act is taxed an additional two per centum per annum upon its 
gross receipts within the State of North Carolina, the said act is unconstitu- 
tional and void," is, as defendants are advised and believe, erroneous. 

XII. 

That it is true that the property of the complainant in North Carolina was in 
the year 1898 listed for taxation by the Railroad Commissioners of North Caro- 
lina at $750,000.00. That as defendants are informed and believe, this was less 
than its true value at that time. That as defendants are informed and believe, 
it is untrue that the said assessment was made against the protest of the said 
complainant. On the contrary the said Commissioners proposed to assess the 
said property at a higher amount, but upon the earnest request of the said com- 
plainant, the amount was finally fixed at $750,000.00. and no exception was taken 
thereto. 

XIII. 

That it is true that the amount of taxes that said company will have to pay, 
and in excess of what it has heretofore been required to pay, is more than two 
thousand dollars per annum, exclusive of interest and costs. 



18s N. C. CORPORATION COMMISSION. 

XIV. 

That as defendants are advised and believe, and so aver, the valuation of the 
complainant's property is not unconstitutional and void as alleged in paragraph 
fourteen of the bill of complaint. That the said property has been assessed for 
taxation by a uniform rule, and that the tax upon its property is not a "tax 
upon income when the property from which the income is derived is taxed," as 
alleged in said paragraph. 

That by said valuation for taxation the privileges and immunities of the said 
complainant have not been abridged, nor has the said complainant been 
deprived of its property without due process of law, it having been notified and 
havirg appeared before the Commission and had a full hearing before the final 
assessment of its property. That it is not true that the said valuation denies 
to complainant the equal protection of the laws, as defendants are advised and 
believe and so aver. 

XV. 

That it is not true, as defendants are advised and believe, and so aver, that the 
"Act to Raise Revenue" directs the Commission to assess property for taxation 
in the manner alleged in paragraph eight of the bill of complaint. On the con- 
trary, the Commission is permitted and directed to consider other facts than 
those set forth, a:id is required to adopt the mileage basis only so far as prac- 
ticable in order to make a proper assessment. It is denied that the said act 
infringes either the Constitution of North Carolina or of the United States. 

XVI. 

It is admitted and alleged that under the taxing laws of North Carolina, the 
Corporation Commission, when it shall have determined the value of telegraph 
property of the complainant, is required to certify to the chairman of County 
Commissioners and the Mayor of each city or incorporated town the amount 
apportioned to his county, city or town, and also make and forward a like cer- 
tificate to the Auditor of the State. 

XVII. 

It is admitted that the said Corporation Commissioners, Franklin McNeill, 
Chairman, Samuel L. Rogers, B. C. Beddingfield, are preparing to make these 
said certificates to the said chairmen of the several Boards of County Com- 
missioners, and Mayors of the several cities and town as apportioned; and that 
to that end, the said respondent, H. C. Brown, Clerk, is engaged in the work; 
that the said respondent, H. W. Ayer, Auditor of State, is preparing to make his 
certificates as the law requires; and Treasurer, the said W. H. Worth, will pro- 
ceed under the taxing laws of the btate to institute actions to enforce the pay- 
ment by the complainant of the amount of the taxes certified to be due as afore- 
said, unless restrained by the order of this Court from doing so. 

All of which matters and things these defendants are ready and willing to 
aver, maintain and prove, as this Honorable Court shall direct, and humbly 



COMPLAINTS AND DECISIONS. 189 

pray to be hence dismissed with their reasonable costs and charges in this 
behalf most wrongfully incurred. 

C. A. Cook, 

J. C. L. Harris, 
Simmons, Pou & Ward, 
H. G. Connor, 
John W. Hinsdale, 
Solicitors for Defendants. 
State of Nop.th Carolina, 
Cd^^TY OF Wake. 
Franklin McNeill, Samuel L. Rogers, E. C. Bedding-field, and H. C. Brown, 
being duly sworn, say each for himself that he has read the foregoing answer, 
and that tiie same is true to his own knowledge except as to matters therein 
stated upon information and belief and as to those matters he believes it to be 

ti ue. 

Franklin McNeill. 

Sam'l L. Rogers. 
B. C. Beddingfield. 
H. C. Brown. 

Subscribed and s\\orn before me this 11th day of September, 1899. 

T. C. H. Dukes, 
(Seal.) Notary Public. 



Answkr 



The answer of W. H. Worth, Treasurer, and Hal W. Ayer, Auditor, is the same 
as the preceding answer. 



Amendment to Answer. 

The defendants, the North Carolina Corporation Commission, Franklin 
McNeill, S. L. Rogers, and E. C. Beddingfield, H. C. Brown, William H. Worth 
and Hal W. Ayer, further answering the bill of complaint herein, say: 



In further answer to the fifth paragraph of the bill of complaint, that while 
the Corporation Commission did not specifically deduct the amount of $15,000,000, 
the pretended value of the said stocks and bonds, that it did deduct from the 
total value of the complainant's property a sum which they deem more than suffi- 
cient to cover the pretended claim and all other claims for deduction made by 
the said Commission. 

VI. 

In further answer to the sixth prayer of the bill of complaint, the defendants 
deny that the said Corporation Commission unlawfully increased the valuation 
of the complainant's property for taxation in North Carolina. 



190 N. C. CORPORATION COMMISSION. 

VII. 

In further answer to the seventh paragraph of the bill of complaint, ths 
defendants say, that it is not true that the property of the complainant was 
assessed at its full value, nor is it true that there was a well-known and long- 
established custom or other custom in North Carolina to assess other property 
of whatever kind for taxation in North Carolina at a valuation not exceeding 
two-thirds of its actual value or at any undervaluation. 

The defendants aver that the said Corporation Commission had the lawful 
authority and right to assess the property of the complainant for taxation as 
and in the manner and at the amount at which it did assess it. 

IX. 

In further answer to the ninth paragraph of the complaint the defendants say, 
that the only evidence as to the average profits per mile throughout the com- 
plainant's entire system in the United States for the year ending March 31, 1899, 
and ol the number of miles of its wire in said system, and of the number of 
miles of poles and one wire, and the number of miles of wire in excess of one 
wire, and of the net profits of its domestic and interstate revenues derived 
from the State of North Carolina, which was offered before the defendant 
Commission when it v^'as passing upon the question of taxation, was the report 
of the complainant, made to the State Auditor, a copy of which is attached to 
the bill of complaint as Exhibit A, and a report made oy said complainant to the 
defendant Commission, dated June 30, 1899, which stated the number of miles 
of poles and wires throughout the United States as 189,847, the number of miles 
of line in North Carolina as 3,171.87, the number of miles of wire in excess of 
one wire as 9,773.03, the capital stock paid up as $97,341,200, the amount of 
funded debt, $15,356,282, the gross earnings for twelve months ending March 
31, 1899, as $136,760.60, expenses, including taxes, $121,147.92, net earnings 
$15,612.18; and the evidence ox Mr. Stith as to number of miles of wire in 1898 
as $874,420.00. Reference is made to the said report. Exhibit A, attached to the 
bill of complaint for greater certainty as to what evidence it contains. 

That except as admitted in paragraphs eight and nine of the original answer, 
and in paragraphs eight and nine of this amended answer, the allegations of par- 
agraphs eight and nine of the bill of complaint are untrue. 

XVIII. 

That the complainant has an adequate and complete remedy at common law as 
well as under section 78 of the Laws of North Carolina of 1899, entitled "An Act 
to provide for the assessment of property and the collection of taxes," ratified on 
March 8, 1899, which provides as follows: 

"No injunction shall be granted by any court or judge in the State to restrain 
the collection of any tax or any part thereof hereafter levied, nor to restrain 
the sale of any property for the non-payment of any such tax, except such tax or 
the part thereof enjoined be levied or assessed for an illegal or unauthorized pur- 
pose or be illegal or invalid or the assessment be illegal or invalid, nor shall any 
person be permitted to recover by claim and delivery, or other process, any 
property taken or distrained by the sheriff or any tax collector for the non- 



COMPLAINTS AND DECISIONS. 191 

payment of any lax except such tax be levied or assessed for an illegal or 
unauthorized purpose, but in every case the person or persons claiming any tax 
or any part thereof to be for any reason invalid, or that the valuation of the 
property is excessive or unequal, who shall pay the same to tax collector or 
other proper authority, in all respects as though the same was legal and valid, 
such person may, at any time within thirty days after such payment, demand 
the same in writing from the Treasurer of the estate or of the county, city or 
town, for the benefit or under the authority or by the request of which the 
same was levied; and if the same shall not be refunded within ninety days 
thereafter, may sue such county, city or town for ihe amount so demanded, 
including in his suit against the county both State and county tax; and if upon 
the trial it shall be determined that such tax or any part thereof was levied or 
assessed for an illegal or unauthorized purpose, or was for any reason invalid 
or excessive, judgment shall be rendered therefor, with interest, and the same 
phall be collected as in other cases, and the amount of State taxes overpaid or 
declared invalid certified by the clerk and refunded by the State Treasurer," 
there being no allegation in the bill of any inability co pay the excess of taxes 
complained of. 

H. G. Connor, 
Simmons, Pou & Ward, 
C. A. Cook, 
J. C. L. Harris, 
John W. Hinsdale, 
Solicitors for Defendants. 
Filed December 4, 1899, (rule day). 
Hearing at Asheville, September 13, 1899. 
Pending. 



Fertilizer F^ate Case 



The North Carolina Corporation Commission having made a uniform rate 
for the shipment of fertilizers applicable to all railroads, as per order here- 
inafter set forth, the Carolina Central Railroad Company filed its bill of co-m- 
plaint against the Commission and others for the purpose of enjoining the 
enforcement of the order of the Commissioners as follows: 



IN THE CIRCUIT COURT OF THE UNITED STATES FOR 
THE EASTERN DISTRICT OF NORTH CAROLINA.— 
FOURTH CIRCUIT.— IN EQUITY. 



Original Bill. 

VIRGINIA B. MATTHEWS 
vs. 
THE BOARD 01*^ CORPORATION COMMISSIONERS OF THE STATE OF 
NORTH CAROLINA, FRANKLIN McNEILL, SAMUEL L. ROGERS, B. C. 
BEDDINGFIELD, ZEBULON V. WALSER, CAROLINA CENTRAL RAILr 
ROAD COMPANY, et al. 

To the Honorahle, the Judge of the Circuit Court of the United States 

for the Eastern District of North Carolina. 

Virginia B. Matthews, a resident and citizen of the State of New York, city 
of New York, brings this, her bill of complaint, in behalf of herself and all 
others similarly situated, against the Board of North Carolina Corporation 
Commissioners for the State of North Carolina, and against Franklin McNeill, 
Chairman, Samuel L. Rogers and E. C. Beddingfield, composing said Board of 
North Carolina Corporation Commissioners, and Zebulon Vance Walser, 
Attorney-General of the said State of North Carolina, and Rudolph Duffy, C. M. 
McLean and J. M. Webb, Solicitors of the State of North Carolina, and against 
the Carolina Central Railroad Company, a corporation duly organized under the 
laws of the State of North Carolina. 

And thereupon, your orator complains and alleges: 

l.That your orator is a resident and citizen of the city of New York, State of 
New York, and has been for more than twenty years the owner and holder of 
first, second and third mortgage bonds and stock in said Carolina Central Rail- 
road Company, and is now the owner and holder of two hundred and forty-two 
of the first mortgage bonds of said Carolina Central Railroad Company, of one 



COMPLAINTS AND DFCTSTONS. 193 

thousand dollars each, and that she will be entitled to receive on the first day of 
July, 1899, the sum of $4,640.00, as interest due thereon at the rate of 4 per cent 
per annum. Said bonds are numbered from 910 to 1,000 inclusive, and from 
1101 to 1250 inclusive and number 1278. That your orator's interest in the 
bonds of the said railroad company grew out of and was a part of the loans 
made to the said Wilmington, Charlotte and Rutherford Railroad Company by 
her late husbai^d, Edward Matthews, who was the owner and holder of $991,000 
of bonds of the said Wilmington, Charlotte and Rutherford Railroad Company, 
hereir. after referred to as the original company, and who depositea said bonds 
with the reorganization committee, which organized in 1873 the said Carolina 
Central Railway Company, and which purchased, on April 10, 1873, the prop- 
erty, rights, powers, privileges and immunities of the said Wilmington, Char- 
lotte and Rutherford Railroad Company at a foreclosure sale under a judicial 
decree, as hereinafter stated. That said loans were made by her said husband 
long prior to the year 1873, as your orator claims, to said Wilmington, Char- 
lotte and Rutherford Railroad Company, the bonds of which company were 
issued and sold March 1, 1867, to aid in the construction thereof, in reliance 
upon the provisions of its charter, and notably among others, of section 17, 
which accorded to said railroad company the exclusive right, through its Board 
of Directors, to fix the charges upon freight to be transported by the said rail- 
road company, and that said bonds were issued under the authority conferred 
by the General Assembly of the State of North Carolina by an act ratified 
December 20, 1866, entitled, "An Act to enable the Wilmington, Charlotte and 
Rutherford Railroad Company to complete its road, pay its deot to the State, 
and extend its road to the Tennessee line." That section 2 of said act is as 
follows: "Be it further enacted, that to secure the payment of these bonds 
and other evidences of debt, issued as aforesaid, and the interest thereon, as the 
same may accrue, the said Wilmington, Charlotte and Rutherford Railroad 
Company may execute and deliver mortgage deeds signed by the President 
and Secretary of said company, conveying its franchise and property, including 
its road-bed, superstructures, choses in action, and real and personal estate of 
whatever kind, and the deed of mortgage so executed and delivered and regis- 
tered in the county of New Hanover, shall have priority over any lien or other 
claim held by the State on the subject matter so conveyed; it being the intent 
and meaning of this act that the mortgage under the authority of this act shall 
have the rights and powers of a first mortgage, and the State shall be in the 
position and shall have the rights of a second mortgage only." 

Your orator is informed and believes that said mortgage and deed of trust 
was duly executed and registered in the county of New Hanover in said State 
on the 1st day of April, A. D., 1867. 

That your orator's late husband, the said fidward Matthews, was a subscriber 
for 2,500 shares of the capital stock of said Carolina Central Railway in 1873. 

2. That the defendants Franklin McNeill, Samuel L. Rogers and B. C. Bed- 
tiingfield now form and constitute the Board of North Carolina Corporation 
Commissioners of the said State of North Carolina, the said Franklin McNeill 
being Chairman thereof, and their office and official place of business is in the 
city of Raleigh in the said State of North Carolina in the Eastern District 



194 N. C. CORPORATION COMMISSION. 

thereof. That the defendant Zebulon V. Walser is a citizen and resident of the 
said Eastern District of North Carolina, and the defendants Rudolph Duffy, 
C. M. McLean, J. M. Webb, are citizens and residents of the State of North 
Carolina. That the said Franklin McNeill, Samuel L. Rogers and E. C. Bed- 
dingfieid became, and were duly appointed, members of the said Board of Cor 

poration Commissioners in or about the month of , 1899. That the 

defendant Zebulon V. Walser is the Attorney-General of the said State of 
North Carolina, and a citizen and resident of said State, and is one of the 
officers designated and mentioned in the act hereinafter referred to, to prose- 
cute claims against the railroad companies in the said State of North Carolina 
for the enforcement of penalties as prescribed by and in the said act upon 
their refusal to comply with the orders of the said Board of Corporation Com- 
missioners acting by and under the said act. That the said Rudolph Duffy 
is the Solicitor for the State of North Carolina in and for the Sixth Judicial 
District of the said State: that the said C. M. McLean is the Solicitor for the 
said State in the Seventh Judicial District of the said State, and that the said 
J. M. Webb is the Solicitor for the State in the Eleventh Judicial District of said 
State. That the said Zebulon V. Walser, Attorney-General, and the said 
Rudolph Duffy, C. M. McLean and J. M. Webb, Solicitors, are all citizens and 
residents of the said State of North Carolina, and are of the officers designated 
and mentioned in the act hereinafter referred to, being the Corporation Com- 
mission Act, to prosecute claims against railroad companies in the said State 
of North Carolina for the enforcement of penalties as prescribed by and in the 
said act upon their neglect or refusal to comply with the orders, rules and 
regulations of the said rules of the Corporation Commissioners, acting by and 
under the said act. 

3. That the amount involved in this suit is over $2,000, exclusive of interest 
and costs, and that this suit is one arising under the Constitution of the 
United States. 

4. That in the year A. D., 1899, the General Assembly of the said State of 
North Carolina passed an act entitled "An Act to establish the North Caro- 
lina Corporation Commission," for the general supervision of railroads and 
other corporations doing business in the State of North Carolina, and being 
chapter .... of the Laws of North Carolina for the session of 1899. 

The said act, ratified on the 6th day of March, 1899, provides for an election 
by the General Assembly of three Commissioners, charged with the general 
supervision of all railroad companies doing ousiness in the State of North Car- 
olina, with authority to fix and regulate the rates and charges of the said rail- 
road companies, and to that end the said Commissioners are empowered and 
directed to make reasonable and just freight tariffs, and to cause the same to be 
observed and followed by any and all railroad companies doing business in the 
State of North Carolina. 

The said act further provides that said Commissioners shall perform all the 
duties and exercise all the powers imposed or conferred by chapter three 
hundred and twenty (320) of the Public Laws of eighteen hundred and ninety- 
one, ratified on the 5th day of March, 1891, and the acts amendatory thereto. 

The said act further provides that in the event of any neglect or refusal 
on the part of any railroad company to comply with any rule, regulation or 
order of said Corporation Commissioners, made in pursuance of said act, a 



COMPLAINTS AND DECISIONS. 195 

penalty shall be incurred by such railroad companies so refusing, to be col- 
lected, and upon conviction thereof shall be fined not less than one thousand 
nor more than five thousand dollars for each and every offence. 

5. That the defendants Franklin McNeill, Samuel L. Rogers and E. C. Bed- 
dingfield, who now form and constitute the said Board of Corporation Commis- 
sioners of the State of North Carolina under the provisions of the said act, of 
which Board Franklin McNeill is the Chairman, passed and promulgated on 
or about the 27th of April, A. D., 1899, an order dated on that day entitled, 
"Rates on Freight on Fertilizers", and therein and thereby ordered, among 
other things, that on and after the 15th day of May, 1899, the minimum car- 
load should be ten tons, and established certain reductions in freight rates of 
fertilizers as shown in said published order, a copy of which is hereto annexed 
and marked Exhibit "A", which the complainant prays may be taken as a part 
of this bill. 

6. Your orator further shows that the freight rate on fertilizers on all rail- 
roads in said State fixed by the former Board of Railroad Commissioners as 
constituted before the appointment of the said McNeill, Rogers and Bedding- 
field as Corporation Commissioners, made the carloads fifteen tons minimum 
and the maximum rate for the Carolina Central Railroad was made the. same 
as that applied on the Cape Fear and Yadkin Valley Railroad, the weakest rail- 
road in the State, as appears by the order passed and promulgated by the said 
Board of Railroad Commissioners, dated April 21, 1898, a copy of which is 
hereto annexed and marked Exhibit "B", which the complainant prays may be 
taken as part of this bill. These are just and reasonable rates, and they have 
been so repeatedly judged by the Board of Railroad Commissioners of the said 
State, after due deliberation and consideration, and they have proven to be so 
during the several years that they have been in operation. That this question of 
the reduction of the old rates was brought before the former Board of Railroad 
Commissioners in the years 1897 and 1898, and earnestly and zealously urged 
and insisted upon, and the said former Board, upon the evidence produced 
before it upon the question, after grave and mature deliberation, decided that 
the Carolina Central Railroad should apply the rate then fixed for the Cape 
Fear and Yadkin Valley Road, which was a concession in behalf of the said 
Carolina Central Railroad because of its mileage through a scantily populated 
section of country, and its small earning capacity relatively as to its capitaliza- 
tion and funded debt. 

That the said Railroad Commission considered the relative capacity of the 
several railroads of said State of North Carolina to earn a just and reasonable 
return upon their invested capital respectively is further shown by its declara- 
tion, on page 63 oi its report for 1898, that said Carolina Central Railroad 
might add thirty per cent to the Commissioners' standard tariff. 

7. Your orator further shows that the Carolina Central Railroad Company is 
the successor company of the corporation duly created under and by virtue of an 
act of the General Assembly of the said State of North Carolina, entitled "An 
Act to incorporate the Wilmington and Charlotte Railroad Company, 
ratified on the 13th day of February, 1855, which company's name was changed 
to that of Wilmington, Charlotte and Rutherford Railroad Company by an act 
of the General Assembly of the said State ratified on the 14th day of February, 
1855, entitled "An Act supplemental to an act to incorporate the Wilmington 



195 N. C. CORPORATION COMMISSION. 

and Charlotte Railroad." By an act of the General Assembly of said State, rat- 
ified February 20, 1873, and by acts supplementary thereto, the Carolina Central 
Railroad Company was duly created, organized and authorized to purchase the 
said Wilmington, Charlotte and Rutherford Railroad at any sale thereof, and 
hold, possess and be entitled to the said railroad and all its contracts, rights, 
privileges and immunities, and all the estate and property of every description 
belonging to said company. And said Carolina Central Railway Company did 
subsequently purchase and acquire the same, and was tnereafter succeeded by 
the Carolina Central Railroad Company, which was organized under and in 
accordance with an act of the General Assembly of said State, ratified on the 
1st day of March, 1873, and entitled "'An Act to regulate mortgages by corpora- 
tions and sales under the same," and thereafter P. O. French and others, as 
a committee of bondholders, acquired all of the said railroad property, fran- 
chises, powers, privileges, immunities and rights as the purchasers thereof by 
deed of the Commissioners duly appointed by decree of the Superior Court of 
New Hanover County to make a sale of said franchises and railroad, bearing 
date the 25th day of June, 1880, in which deed the Carolina Central Railroad 
Company was named as the grantee, and thus ipso facto became a corporation 
entitled to own and operate me same as really the grantee in said deed. And 
thereafter the General Assembly of said State confirmed the creation of said Cor- 
poration by an act entitled "An Act to perfect the organization of the Carolina 
Central Railroad Company," which act, ratified on the 18th day of January, 
1881, declared the said Carolina Central Railroad Company to be a lawfully 
organized corporation, succeeding to and lawfully possessed of all the rights, 
powers, privileges and franchises which were owned ard possessed by the 
former corporation, the Carolina Central Railway Company, on and prior to 
the day of said sale, the 31st day of May, 1880. 

That in section 17 of said act of incorporation of the said original company, 
the Wilmington and Charlotte Railroad Company, the exclusive right was given 
to said railroad company to convey and transport persons, goods, merchandise 
and produce on said railroad at such charges as may be fixed upon by the Board 
of Directors in the following words: "Be it further enacted that the said com- 
pany shall have the exclusive right of conveyance or transportation of persons, 
goods, merchandise and produce on said railroad, to be constructed, on such 
charges as may be fixed by the Board of Directors." And your orator alleges 
that said exclusive right to fix charges for freight has not been lawfully 
repealed, and it still remains the exclusive right of the successor company to 
fix its charges without interference by the Board of Corporation Commissioners 
or any other officers of the State of North Carolina, and that the said Carolina 
Central Railroad Company is the successor company, and is entitled, as such, to 
all the rights, powers, privileges, franchises and immunities granted to the 
said original company, the said Wilmington and Charlotte Railroad Company, 
in 1855. 

That legislation subsequent to the date of the charter, granted by said State 
of North Carolina to the original company, said Wilmington and Charlotte Rail- 
road Company, as your orator is advised and believes, can not be permitted to 
impair the obligation of the contract then made by the State to those who 
advanced money for the construction of said railroad and received the bonds 
issued to secure the same, in good faith that the exclusive right to fix rates for 



COMPLAINTS AND DECISIONS. 197 

freight would be observed, and that said road was built on the faith of that and 
other rights granted in its charter, without any reservation in said charter as 
to the right of the State to alter, amend, or repeal the same. That your orator 
believes and claims that the Carolina Central Railroad Company has a vested 
right 'to fix its own rates. 

To all of the acts and amendments herein referred to, your orator begs leave 
to refer, and by reference include herein v/ith the same force and effect as 
though the same were here set forth at length. 

8. That said Carolina Central Railroad Company owns and operates a railroad 
which was judiciously located and economically constructed under the author- 
ity of the said acts of the General Assembly of the State, extending from the 
city of Wilmington, where its principal place of business is located, in New 
Hanover County in said State, through the counties of New Hanover, Bruns- 
wick, Columbus, Bladen, Robeson, Richmond, Anson, Union, Mecklenburg, 
Gaston, Lincoln, Cleveland, to the town of Rutherfordton in the county of 
Rutherford, in said State of North Carolina, a distance of about 273 miles, 
inclusive of branches, and that, although it has been economically managed and 
operated, it has been obliged to struggle for its existence, and iis earnings for 
freight and passengers, as your orator is informed and believes, have never been 
adequate to m.eet its requirements for construction, repairs, equipment, opera- 
tion, and to pay the moderate interest due upon moneys borrowed for such pur- 
poses, loans for which were duly authorized, and were duly represented by 
bonds, secured by mortgages, or deeds of trust, executed by said railroad com- 
pany, and that in consequence of successive defaults in payment upon such 
duly authorized bonds, receiverships' foreclosure sales and frequent reorganiza- 
tions and readjustments of its capitalization and funded debt became neces- 
sary and resulted from such inadequate earnings. A schedule showing cost 
and value of road and equipment and the earnings of said company is annexed 
hereto and marked Exhibit "C", and your orator prays that it may be taken 
as a part of this bill. 

Your orator is advised and believes that taking the seven years ending with 
June 30, 1898, during which period the said railroad company did not earn its 
operating expenses and fixed charges, and as appears by its printed annual 
reports, there resulted to said railroad company a deficit of more than $150,000 
upon its fixed charges, and that said railroad company has never declared or 
earned a dividend upon its small amount of capital stock, and it never earned 
or paid any interest upon its $3,000,000 of income bonds. 

That in 1894, owing to threatened default in the payment of interest upon 
its then existing issue of $2,000,000 first mortgage 6 per cent bonds and an 
impending receivership, your orator, then the owner of $200,000 and upwards 
of said first mortgage bonds, $5,000 of second mortgage bonds, $1,304,000 of 
third mortgage bonds, and $450,000 of the capital stock of said Carolina Central 
Railroad Company, entered into an agreement v/ith other bondholders and with 
said railroad company, for the purpose of preventing the insolvency of the said 
railroad company, to forbear for a period of five years one-third of the 
amount due, and to become due as interest upon the said first mortgage bonds, 
and to receive in lieu of the required 6 per cent, 4 per cent interest in cash and 2 
per cent interest in script payable ten years thereafter. That subsequently and 
in the year 1898, your orator, still holding the same securities, in common with 



198 N. C. CORPORATION COMMISSION. 

the other holders of said first mortgage 6 per cent bonds, seeing the inability 
of said railroad company to meet from its earnings the requirements of its 
funded debt, viz.: 

First mortgage of 6 per cent bonds, maturing 1920 $2,250,000 

Second mortgage income bonds, maturing 1915 1,500,000 

Third mortgage income bonds, maturing 1910 1,500,000 

215,000 of first mortgage script, maturing 1910 215,000 

or a total of 5,465,000 

entered into an agreement with said railroad company to surrender their sev- 
eral holdings of the several classes of bonds, and to take new consolidated bonds 
bearing only 4 per cent interest with a certain amount of new bonds and of 
preferred and common stock, as a consideration for the proposed reduction of 
interest and principal, with the result that the total funded debt was thus 
reduced from $5,465,000 to $3,000,000 of 4 per cent bonds, while the capital 
stock, for the purpose of redemption of income bonds and other purposes, was 
duly increased from $1,200,000 to $2,000,000, of which $500,000 was preferred 
stock. Under this readjustment of 1898, the said railroad company is required 
to pay $60,000 as a semi-annual installment of interest on said $3,000,000 of first 
mortgage bonds on July 1, 1899, or $20,000 more than it has paid under the 
said bondholders' agreement of 1894 during the last five years on any day for 
the payment of semi-annual interest. 

That, as your orator believes, the enforcement of the North Carolina Corpo- 
ration Commission of its said order of April 27, 1899, reducing the carload min- 
imum from fifteen tons to ten tons, and placing, as it does in effect, the Carolina 
Central Railroad upon the same basis of fertilizer rates with other railroads 
in the State of North Carolina whicn are stronger and of greater earning capac- 
ity, will work irreparable damage to the interests of your orator by reducing 
still further the earning capacity of said Carolina Central Railroad Company 
by at least thirty per cent on its earnings for freight for fertilizers, and by 
injuring its credit, and reducing the market value of its bonds, and in case of 
the threatened default in the payment of interest due on July 1, 1899, arising 
from such proposed reduction in earnings, estimated at not less than $25,000 
per annum, and by the foreclosure and sale of the railroad, the interests of 
your orator would suffer irreparable injury. 

9. Your orator is advised and believes that the proposed reduction of rates 
under said order of April 27, 1899, will not only affect domestic rates, but also 
interstate rates, inasmuch as the latter are based upon a just and fair scale in 
proportion to the local rates to it, so that the proposed reduction will still 
further reduce the earnings of the said Carolina Central Railroad Company. 

10. That the said new rate of freight charges for fertilizers so prescribed by 
said order will go into effect and become operative on and after the .... day 
of May, 1899, and work irreparable damage to your orator's interests, unless 
the said Board of Corporation Commissioners and the said Franklin McNeill, 
Samuel L. Rogers and B. C. Beddingfield be commanded and enjoined by this 
Honorable Court to restore the old rates of freight charges which were in 
force and effect prior to the promulgation of said order of April 21, 1899, and 
suspend the operation and effect of the said order until the further order of 
this Honorable Court. 



COMPLAINTS AND DECISIONS. 199 

11. That the rates prescribed in said order or promulgated by the said Board 
of Corporation Commissioners, are not just and reasonable, in that they are 
unreasonably low, and their enforcement will deny unto the said railroad com- 
pany due process of law and the equal protection of the laws, which are the 
constitutional rights of the said railroad company, and that the attempt to 
enforce the rates set forth in order reducing the earning capacity will be an 
unlawful confiscation of property. Wherefore your orator expressly claims that 
the enforcement of the said Commission and Corporation Acts of 1891 and 
1899, and the order issued thereunder of April 27, 1899, are repugnant to the 
Constitution of the United States, and are in violation of the charter rights of 
the said railroad company to have its rate of freight charges fixed by its Board 
of Directors, approved February 13. 1855, and that said acts and order will be 
in violation of the Fourteenth Amendment of the Constitution of the United 
States, and your orator refers to the decision of the United States Supreme 
Court in the Smyth v. Ames, 169 U. S. Court, 466-540, approving the injunction 
granted bj^ the court below restraining the enforcement of the somewhat sim- 
ilar Nebraska statute of 1893, 18 Sup. Ct., 126. 

That unless the said Board of Corporation Commissioners and the said 
Franklin McNeill, Samuel L. Rogers and E. C. Beddingfield are commanded and 
enjoined by this Honorable Court to put into effect the said old rate of freight 
charges which existed prior to the promulgation of the said order, and to rescird 
or suspend the operation of the said recent order of April 27, 1899, and any 
similar orders, until the further hearing of this cause, the said railroad company 
can not refuse to comply with the said order and to put the said freight rate for 
fertilizers into effect over the lines of its railroad without incurring the heavy 
penalties prescribed in the Act of March 6, 1899, which would attach for viola- 
tion by the said railroad company of the said order, and that the effect thereof 
would be to cause a heavy diminution in its earnings and revenue, to the 
serious injury and detriment of your orator and every holder of the securities 
of said railroad company, the full extent of which can not now be justly 
estimated. 

12. That it is provided in and by the said act of the General Assembly of the 
State ot North Carolina, ratified as aforesaid on the 6th day of March, 1899, 
that all railroads in said State must submit to the orders of the said Corporation 
Commission, and that unless restrained by the order of this Honorable Court, 
the said railroad company can not refuse to comply with the said order reduc- 
ing the rates of freight charges so promulgated by the said Board of Corporation 
Commissioners, Franklin McNeill, Samuel L. Rogers and E. C. Beddingfield, 
except at the risk of a multiplicity of suits, which will be instituted against the 
said railroad company under and in pursuance of the foregoing provisions of the 
said act for violation of the provisions of the said order. Wherefore your orator 
prays that the said Board of Corporation Commissioners, the said Franklin 
McNeill, Samuel L. Rogers and E. C. Beddingfield, and the said Zebulon V. 
Walser, Attornej^-General, Rudolph Duffy, C. M. McLean and J. M. Webb, 
Solicitors for said State, and the said Carolina Central Railroad Company, be 
made parties to this bill, and that subpoena therein may issue in due course, and 
that each of the said defendants be required to answer this bill according to 
the usual practice of this Honorable Court, but without oath, answer under oath 
being hereby expressly waived; that on the hearing the unreasonableness and 



200 N. C. CORPORATION COMMISSION. 

injustice of the said rates of freight charges sought to he enforced by the said 
defendants Pranlclin McNeill, Samuel L. Rogers and E. C. Beddingfield, consti- 
tuting the Board of Corporation Commissioners of the State of North Carolina, 
be adjudged unjust and unreasonable and contrary to the law and equity, and 
that in the meantime your Honors may oi*der the issuance of a writ of injunction 
commanding and enjoining the said Board of Corporation Commissioners, 
Franklin McNeill, Samuel L. Rogers and E. C. Beddingfield to restore the old 
rates of freight charges as existing April 21, 1898, and under the order Circular 
No. 87 amending Circular No. 78 of the North Carolina Railroad Commission 
prior to the promulgation of the said order of April 27, 1899, by said Board of 
Corporation Commissioners, so far as it applies to the said Carolina Central 
Railroad Company, and to rescind and suspend the operation of the said order 
of the said Board of Corporation Commissioners, bearing date April 27, 1899, 
reducing the said rates of freight charges as aforesaid, and also from putting 
into effect the said rates of freight charges prescribed by the said order of the 
said defendants Franklin McNeill, Samuel L. Rogers and B. C. Beddingfield, 
constituting the Board of Corporation Commissioners of the said State of 
North Carolina; and that the said defendants Franklin McNeill, Samuel L. 
Rogers and E. C. Beddingfield, constituting the Board of Corporation Commis- 
sioners of the State of North Carolina, and the said Zebulon V. Walser, acting 
as Attorney-General of the said State, and the said Rudolph Duffy, C. M. 
McLean and J. M. Webb, Solicitors as aforesaid, and their successors in office, be 
forbidden and enjoined from instituting, or authorizing, or directing any others 
to institute any suit or suits, action or actions, against the said Carolina Central 
Railroad Company for the recovery of any penalty or penalties under or by 
virtue of any provision of the said act of the General Assembly of North Caro- 
lina, entitled, "An Act to establish the North Carolina Corporation Commis- 
sion," ratified March 6th, A. D., 1899, as amended by any subsequent act, or 
under or by virtue of any order or orders of the said defendants Franklin 
McNeill, Samuel L, Rogers and E. C. Beddingfield, constituting said Board of 
Corporation Commissioners of the State of North Garolira, or either or any of 
them combined; and that the said defendants Franklin McNeill, Samuel L. 
Rogers and E. C. Beddingfield, and the Board of Corporation Commissioners of 
the State of North Carolina, be forbidden, restrained and enjoined from certify- 
ing any copy or copies of said order, and from delivering or permitting or caus- 
ing to be delivered any copy or copies of said order to any Solicitor in any 
Judicial District in said State of North Carolina, or to said Zebulon V. Walser, 
Attorney-General, or to any other person, and from furnishing to any of the 
defendants or any other Solicitor of the said State of North Carolina any 
information of any character whatever for the purpose of inducing, enabling or 
aiding him or them to institute or prosecute any suit or suits against the said 
Carolina Central Railroad Company for the recovery of any penalty or penalties 
under the said Act of March 6, 1899, as amended by any supplemental acts, and 
that the said defendants, the Board of Corporation Commissioners of the State 
of North Carolina, and the said Franklin McNeill, Samuel L. Rogers and B, C. 
Beddingfield, acting as Corporation Commissioners of the said State, and their 
successors in office, be forbidden, restrained and enjoined from making, issuing 
or delivering to said Carolina Central Railroad Company, or from causing to be 
made, issued or delivered to it any other or further order reducing or proposing 



COMPLAINTS AND DECISIONS. 201 

or seeking to reduce the rates for the transportation of freight over the line 
of railroad owned, controlled or operated by said Carolina Central Railroad 
Company in the State of North Carolina; and that the said defendant, the 
Carolina Central Railroad Company, be restrained and enjoined from accepting 
or submitting to said reduction of rates of freight for fertilizers as set forth in 
the said order of said North Carolina Corporation Commission, known as Cir- 
cular No. 1, and bearing date April 27, 1899, and from publishing any schedule 
of rates for fertilizers at a lower rate than that established by said Railroad 
Commissioners' order of April 21, 1898, or than the rate now charged by said 
railroad company, until the further order of this Hororable Court. And for 
such other and further relief as may seem to this Honorable Court just in the 
premises, and as the nature of your orator's case may require, and as may be 
agreeable to equity. And your orator will ever pray, etc. 

(Signed) Legh R. Watts. 
MacRae & Day, 
Solicitors for Complainant. 
(Signed) I. Augustus J. Mooee, 

Solicitor and of Counsel. 
State of New York, 

Ctty and County of New York. — ss. 
Virginia B. Matthews, being duly sworn, says that she is the owner of $242,000 
of the first mortgage bonds of the said Carolina Central Railroad Company; that 
she has read the foregoing bill, and knows the contents thereof, and that the 
matters therein stated as of her own knowledge are true, and those stated on 
information and belief she believes to be true. 

(Signed) Virginia B. Matthews. 

Sworn to and subscribed before me this 27th day of May, 1899. 

(Signed) Clark H. Abbott, 
Notary Puhlic, New York County, No. 81. 
Notary Public for the city and State aforesaid. 



Ordhr. 

Upon reading the verified bill of complaint in this cause and upon considera- 
tion of the same, now, upon the motion of J. Augustus Johnson and Legh R. 
watts, Solicitors for the complainant, it is 

Ordered that said defendants, the Board of Corporation Commissoiners of the 
State of North Carolina, Franklin McNeill, Samuel L. Rogers, E. C. Beddingfield, 
Zebulon V. Walser, Attorney-General State of North Carolina, Rudolph Duffy, 
C. M. McLean, and J. M. Webb, Solicitors of the State of North Carolina, and 
the Carolina Central Railroad Company, and each of them show cause before 
me at the United States Court House in Asheville, in the State of North Caro- 
lina, on the 15th day of July, A. D., 1899, at 10 o'clock a. m., or as soon there- 
after as counsel can be heard, why the prayer of the said bill of complaint 
should not be granted, and why an injunction as therein prayed should not be 
granted and ordered until the proper hearing of this cause. 
1 14 



202 N. C. CORPORATION COMMISSION. 

And it is further ordered that until the further order of this court, and 
until after the entry and filing of any such order as the Court may make upon 
the hearing aforesaid, the said defendant, the Board of Corporation Commis- 
sioners of the State of North Carolina, the said Franklin McNeill, Samuel L. 
Rogers and E. C. Beddingfield, are hereby enjoined and commanded to restore 
the old rates of fertilizer freights as existing prior to the promulgation of the 
said order made by the said Board of Corporation Commissioners reducing 
freight rates of fertilizers over the line of railroad of the Carolina Central 
Railroad Company, promulgated April 27, 1899, and to rescind and suspend the 
operation of said order of the said Board of Corporation Commissioners reducing 
the said freight rates for fertilizers as aforesaid; and they are hereby restrained 
and enjoined, also, from putting into effect the said rates of freight for the 
transportation of fertilizers over the lines of the Carolina Central Railroad 
Company prescribed by the order of the said defendants Franklin McNeill, 
Samuel L. Rogers and E. C. Beddingfield, constituting the Board of Corporation 
Commissioners of the State of North Carolina, as mentioned and set forth in 
bill herein, and from permitting the said order and new rates of freight for 
fertilizers from going into or remaining in effect; and that the said defendants 
Franklin McNeill, Samuel L. Rogers and E. C. Beddingfield, constituting the 
Board of Corporation Commissioners of the State of North Carolina, and said 
Zebulon V. Walser, Attorney-General of the said State of North Carolina,, and 
the said Rudolph Duffy, C. M. McLean and J. M. Webb, acting as Solicitors for 
the Sixth, Seventh and Eleventh Judicial Districts respectively of the said 
State of North Carolina, and their successors in office, be and they are hereby 
forbidden, enjoined and restrained from instituting or authorizing or directing 
any others to institute any suit or suits, action or actions against the said Car- 
olina Central Railroad Company for the recovery of any penalty or penalties 
under and by virtue of any provision of the said act of the General Assembly 
of North Carolina, entitled "An Act to establish the North Carolina Corpora- 
tion Commission", ratified March 6, 1899, or under or by virtue of any order or 
orders of the said defendants Franklin McNeill, Samuel L. Rogers and B. C. 
Beddingfield, constituting the said Board of Corporation Commissioners of the 
State of North Carolina, or either or any of them combined; and that the said 
defendants Franklin McNeill, Samuel L. Rogers and E. C. Beddingfield, acting 
as Board of Corporation Commissioners of the State of North Carolina, and each 
and every of them be and they are hereby forbidden, restrained and enjoined 
from certifying any copy or copies of said order and from delivering or permit- 
ting or causing to be delivered any copy or copies of said order reducing the 
rates of freight for fertilizers over the line of the Carolina Central Railroad 
Company as aforesaid to any Solicitor in any Judicial District in the said State 
of North Carolina, or to the said Zebulon V. Walser, Attorney-General, or to any 
other person; and from furnishing to any of the defendants or any other 
Solicitor of the said State of North Carolina any information of any character 
whatsoever for the purpose of inducing, enabling him or them to institute or 
prosecute any suits against the said Carolina Central Railroad Company for 
the recovery of any penalty or penalties under the said Corporation Commission 
Act of March 6, 1899; and that the said defendants, the said Franklin McNeill, 
Samuel L. Rogers and E. C. Beddingfield, acting as the Corporation Commis- 



COMPLAINTS AND DECISIONS. 2C3 

sioners of the said State, and their successors in office, be and they hereby are 
forbidden, restrained and enjoined from making or issuing or delivering to the 
said Carolina Central Railroad Company, or from causing to be made, issued 
or delivered to it, any further or other order reducing or purposing or seeking 
to reduce the rates of freight for fertilizers over the lines of the railroad owned, 
controlled and operated by the said Carolina Central Railroad Company in the 
said State of North Carolina; and that the said defendant, the Carolina Central 
Railroad Company, be and it hereby is forbidden, restrained and enjoined from 
obeying or submitting to any such order reducing or seeking to reduce the rates 
of freights for fertilizers over its lines of railroad, and from publishing any 
schedule of rates for fertilizers lower than the rates existing prior to the said 
27th day of April, 1899, until the further order of this court. 

And it is further ordered that a copy of this order be forthwith served upon 
each of the defendants herein. 

Dated this 2nd day of June, A. D., 1899, at 

It is further ordered that the complainant enter into an injunction bond in 
the penal sum of one thousand dollars ($1,000.00) with sureties to be approved 
by the judge of this court as indemnity for the defendants in case this suit is 
decided against said complainant. (Signed) Chas. H. Simontox. 

Circuit Judge. 

A true copy. 

Teste: N. J. Riddick, Clerk. 

(Seal.) 

June 5, 1899. 



Answer. 



The joint and several answer of the North Carolina Corporation Commission, 
improperly styled in complainant's bill of complaint, "the Board of Corporation 
Commissioners of North Carolina," Franklin McNeill, Samuel L. Rogers and 
E. C. Beddingtield, constituting said Commission, and Zebulon V. Walser, Attor- 
ney-General of North Carolina, and Randolph Duffy, C. M. McLean and J. M. 
Webb, Solicitors of said State, to the bill of complaint of Virginia B. Matthews, 
complainant: 

These defendants, now and at all times hereafter reserving to themselves all 
benefit and advantage of exception which can or may be had or taken to the 
many errors, uncertainties and other imperfections in the said bill of complaint 
contained, for answer thereto or to so much and such parts thereof as these 
defendants are advised is or are material or necessary for them to ansv/er, 
these respondents answering, say: 

1. That these defendants have not been informed and have no sufficient 
knowledge or information upon which to form a belief as to the allegations 
contained in the first paragraph of said bill of complaint as to the ownership 
by the complainant of any of the bonds or stock of the defendant, the Carolina 
Central Railroad Company, or as to the amount thereof, and these defendants 
hold the complainant to proof thereof. 

The remaining allegations in said paragraph are admitted, except the allega- 



204 N. C. CORPORATION COMMISSION. 

tion that the bonds of the said Wilmington, Charlotte and Rutherford Railway- 
Company, issued as alleged on March 1, 1867, were issued in reliance upon the 
alleged provision in its charter according to said company the exclusive right, 
through its board of directors, to fix the charges upon freight to be transported 
by said company. And these defendants aver, as will be hereinafter set forth, 
that even if any such alleged exclusive right resided in the said Wilmington, 
Charlotte and Rutherford Railway Company under its original charter, such 
exclusive right was never acquired nor is it now held or possessed by the 
defendant, the Carolina Central Railroad Company. 

2. That the allegations of paragraph second of said complaint are admitted. 

3. That the allegations of paragraph third of said bill of complaint are 
admitted. 

4. That the allegations of paragraph fourth of said bill of complaint are 
admitted. 

5. That the allegations of paragraph fifth of said bill of complaint are 
admitted. 

6. Answering the allegations of paragraph sixth, these respondents aver that 
by an order duly made and entered by the former Board of Railroad Commis- 
sioners, shortly after the organization of said Board, in 1891, which order met 
the approbation and observance of the Carolina Central Railroad Company and 
the various other railroad companies of said State, the minimum carload for 
fertilizers was fixed at ten tons; that said minimum carload of ten tons had, 
prior to the time v/hen it was so established by said Board, been fixed and 
established by said Carolina Central Railroad for and upon its own account, 
and was at the time so in use and observance by said railroad ; that in January, 
1898, the said Board made the said minimum carload fifteen tons, and it so con- 
tinued until April 27, 1899, v/hen it was, by an order duly made by the said 
Corporation Commission, restored to ten tons. That the said former Board 
of Railroad Commissioners in January, 1898, in establishing the maximum 
freight rates for transportation of fertilizers for said Carolina Central Railroad, 
made for said road an arbitrary rate of 30 per cent above the standard rates then 
fixed by said Board for railroads in the State; that said arbitrary rate was the 
same as was then fixed by said Board for the Cape Fear and Yadkin Valley 
Railroad, which complainant alleges to be the weakest railroad in the State. 
But these respondents aver that the said freight rates for the transportation of 
fertilizers were entirely too high, and on June 27, 1899, the said Corporation 
Commission, after due and thorough consideration, fixed and adjudged a lower 
rate for the said transportation of fertilizers in respect to the said Carolina 
Central Railroad by repealing the said arbitrary premium of 30 per cent above 
the standard rates; that the rates so fixed are just and reasonable and fair, and 
will enable the said Carolina Central Railroad Company to earn a fair and 
reasonable profit upon the business which it may do upon shipments of fer- 
tilizers; and these respondents further aver that said rates so fixed for said 
Central Railroad by repealing the said arbitrary premium of 30 per cent above 
said Cape Fear and Yadkin Railroad, which, as complainant alleges, is the 
weakest railroad in the State; that the said Cape Fear and Yadkin Railroad 
Company has accepted the said rates and made and makes no objection to the 



COMPLAINTS AND DECISIONS. 205 

same. And said respondents further aver that said rates so fixed by said Cor- 
poration Commission are the same as those established and observed by the said 
Seaboard Air Line system itself for the transportation of fertilizers on interstate 
business between South Carolina and this State, which is transported in part 
over said Carolina Central Railroad and for which the said Carolina Central 
Railroad receives only a small percentage of the receipts for such transportation. 

7. These deiendants admit the enactment of the various acts of the General 
Assembly of North Carolina specified in paragraph seventh of said bill of com- 
plaint, and refer to said acts for greater particularity; but these defendants aver 
that the alleged exclusive right vv^hich complainant alleges arises out of section 
17 of chapter 225, Laws of 1854-55, incorporating the said Wilmington and 
Charlotte Railroad Company, has been repealed, and further, these defendants 
aver that their codefendant, the Carolina Central Railroad Company, neither 
as the alleged successor of the said Wilmington and Charlotte Railroad Com- 
pa":iy or otherwise has a.iy exclusive right through its board of directors, or 
otherwise to fix the charges for the transportation of persons, goods, mer- 
chandise or produce on said railroad. These defendants aver that the General 
Assembly of North Carolina, by the acts entitled, "An Act to provide for the 
general supervision of railroads, etc.," being chapter 320, Laws of 1891, sec- 
tion 17, and by an act entitled, "An Act to establish a North Carolina Corpora- 
tion Commission," being chapter 164, Laws 1899, repealed said section 17 of 
chapter 225, Lav/s of 1854-55, and said section does not constitute any part of the 
charter of the said Carol. n a Central Railroad Company, and is as to said charter 
null and void. That the charter of said Carolina Central Railroad Company, 
beirg chapter 75, Lav/s of 1872-73, is repealable or amendable at the will of said 
General Assembly, under Article VIII, section 1, of the Constitution of said 
State: and such repealable charter can not constitute or include the alleged 
irrevocable contract or any other between a corporation, the said Carolina Cen- 
tral Railroad Company, and the said State, but said charter and any and all 
parts thereof are held subject to the power of said State at any and all times 
to repeal or amend the same. 

8. A.nd further answering, these defendants say: That they have not been 
informed and have no sufficient knowledge or information upon which to form a 
belief as to the allegations in paragraph eight of said bill of complaint in 
respect to the holdings by the complainant of the bonds and capital stock of the 
said Carolina Central Railroad Company, and they hold the complainant to 
proof thereof. That they admit that the said railroad was judiciously located 
and economically constructed and extends from Wilmington to Rutherford 
through the counties named in the bill; and these defendants aver upon 
information and belief that the funds used in the construction of said railroad 
were almost, if not altogether, provided by subscriptions by the various counties 
through which the road runs and by private individuals residing along its 
route who were vitally interested in its construction and in its maintenance and 
operation as a transportation line primarily for the benefit of those who 
resided on or near its route and as a means of swift and economical communica- 
tion between the various sections through and near which it was located; and 
these defendants further aver that if these primary and vital purposes had 



206 N. C. CORPORATION COMMISSION. 

been considered and observed in the operation of said road by those who for 
years past have controlled it, it would have been and would now be amply able 
to pay its operating expenses and fixed charges even upon the bonded indebted- 
ness specified in the bill, and return to the holders of its stock a fair return 
upon its investment; but if as alleged in said bill (which these defendants con- 
trovert) the said road has been compelled to struggle for its existence it has 
so happened because those who controlled and now control its management and 
operation also controlled and now control the management and operation of the 
other roads which together with the said Carolina Central Railroad go to con- 
stitute the "Seaboard Air Line" system, to-wit: The Seaboard and Roanoke 
Railroad, the Raleigh and Gaston Railroad, ihe Raleigh and Augusta Air Line 
Railroad, the Georgia, Carolina and Northern Railroad, and other subsidiary 
roads, said roads having the same general officers and managers; and they have 
so managed and operated and still do so manage and operate the said aggregate 
roads as purposely to subordinate the said Carolina Central Road to the inter- 
ests and benefits of the said other roads, and any inadequate and unsatisfactory 
earnings of the said Carolina Central Railroad Company (if so they be) is 
simply the logical and unavoidable result of the unfair management of the 
whole line of the said Seaboard Air Line system in respect to the interests of 
the said Carolina Central Railroad Company. That freights have been diverted 
from the said Carolina Central Railroad to said other roads which naturally 
should have gone over the said Carolina Central Railroad to. the nearest deep- 
water port at Wilmington in order that said other roads might receive the 
profit of their transportation ; that the charges for transportation of freight over 
said Carolina Central Railroad have been so adjusted as to drive freight traffic 
from said road to other and competing roads; and that in the division of the 
receipts for the transportation of freight partly over said Carolina Central 
Railroad and partly over the other roads of said "Seaboard Air Line" system the 
"lion's share" has been given the said other roads, so that in the said division of 
receipts the said Carolina Central Railroad Company has received only a very 
small percentage of what was justly due it for such transportation, the major 
part of such receipts and largely more than was justly and reasonably due upon 
a fair and equitable apportionment being given to the said other roads; all 
which these defendants will show upon the hearing of this cause. And a state- 
ment in respect to such division of receipts is attached to this answer as 
Exhibit "X" and asked to be taken as part of this answer, which said state- 
ment was furnished to said Corporation Commission by the proper officers 
of said "Seaboard Air Line" system. And these defendants further aver upon 
information and belief that the said Carolina Central Railroad is owned and 
controlled by the said Seaboard and Roanoke Railroad Company and said 
Raleigh and Gaston Railroad Company, which together own a majority of the 
capital stock of the said Carolina Central Railroad Company; that the said 
Seaboard and Roanoke Railroad Company owns a majority of the capital stock 
of the said Raleigh and Gaston Railroad Company, and controls the samet 
and said Raleigh and Gaston Railroad Company and Seaboard and Roanoke 
Railroad Company own a majority of the capital stock of the said Raleigh and 
Augusta Air Line Company, and control the same; and the said Seaboard and 



COMPLAINTS AND DECISIONS. 207 

Roanoke Railroad Company, as defendants are informed, own a large propor- 
tion of the capital stock of the Old Dominion Steamship Company, the com- 
munication line by water from Norfolk, the deep-water terminus of the said Sea- 
board and Roanoke Railroad, to the city of New York, and controls the manage- 
ment of the same. And as these defendants aver the sole and ultimate con- 
trolling power over all these roads going to make up the said Seaboard Air 
Line as aforesaid is the said Seaboard and Roanoke Railroad Company, and the 
said Caroina Central Railroad Company has been so managed and operated by 
this said controlling road as to divert traffic from it, to lessen its receipts from 
the transportation of freight, to unfairly divide the receipts from freight trans- 
ported partly over it and partly over the other roads of said system, to bend the 
entire earning capacity of said Carolina Central Railroad to the interests of the 
other roads and to so adjust freight charges and all other matters incident to the 
transportation of freights as to prevent the hauling of freight over the line 
of said road and to force it over the other lines of the said system and over 
the said steamship line. 

9. Answering paragraph ninth of said bill these defendants aver that the alle- 
gations of said paragraph are untrue. 

10. Answering paragraph tenth these defendants aver that it is not true that 
the rates of freight charges for fertilizers fixed by said Board of Corporation 
Commission which were made on April 27, 1899, will work any damage to the 
interest of complainant or of the said Carolina Central Railroad Company; and 
these defendants further aver that the said Carolina Central Railroad Company 
appealed from said order, as under the law it had a right to do, to the Superior 
Court of Wake County in said State; and perfected such appeal by duly giving 
the bond required by law; that the effect of said appeal and the giving of said 
bond was to vacate said order in so far as it affected the said Carolina Central 
Railroad Company, and at the time this suit was instituted said appeal was 
pending in the said Superior Court and the said order was in force in respect to 
said company. 

11. That the allegations of paragraph eleven of said bill are untrue; and these 
defendants further aver that when all matters and things material and perti- 
nent to be considered in connection with the said rates established by the said 
Board for the transportation of fertilizers by said Carolina Central Railroad are 
considered it will appear that the said rates are just and reasonable and that 
the business arising to said railroad for the transportation of fertilizers under 
said rates can be by it conducted profitably and will produce a net revenue to 
said road over and above all expenses incident to said transportation; and this 
these defendants aver is more especially true if the said controlling power of 
said Seaboard Air Line system shall deal justly and honestly as hereinbefore 
set out with said Carolina Central Railroad and with the complainant and 
other holders of its bonds and capital stock. 

12. And further answering these defendants repeat that the said order men- 
tioned in paragraph twelfth of said bill was at the time this suit was instituted 
not in force in respect to said Carolina Central Railroad. 

And further answering, these defendants aver: 

13. That the value of the property of the said Carolina Railroad Company 



208 N. C. CORPORATION COMMISSION 

was assessed for taxation for the current year by the respondents, the said 
Corporation Commission, at the aggregate amount of $2,646,000, but the said 
Carolina Central Railroad Company, averring under oath that said assessment 
was too great, instituted suit which is now pending in this court to have the 
same reduced and the said valuation has, pending, the said suit, been adjudged 
and fixed by this court at $1,851,829.86. And these respondents insist that in 
respect to the fixing of rates for the transportation of fertilizers and other 
freights over said road the valuation of the property of the said railroad 
company as alleged by itself and adjudicated as aforesaid is the true criterion 
for ascertaining and adjudicating what are fair and reasonable rates. And 
respondents further aver that the rates fixed by said Corporation Commission 
are fair and reasonable, not only upon the valuation of said $1,851,829.86, but 
also upon the valuation of $2,646,000 as fixed by said Corporation Commission. 
And further answering, defendants aver: 

14. That, as appears from a statement made to the defendant, the North Car- 
olina Corporation Commission, by the proper officer of the Seaboard Air Line 
system, a copy of which is appended hereto as part of this answer and marked 
(Y), that in the intra-State movement of fertilizers on the different lines in 
the State there were transported over the said Carolina Central Railroad from 
January 1st to May 1, 1899, 28,449,658 pounds or 14,225 tons of fertilizers, and 
that the income derived by said Carolina Central Railroad Company from their 
transportation was $33,017.84 or on an average about $2.32 per ton, and that the 
four months embraced in that statement covers what is termed the fertilizer 
season, and shows nearly all the business in fertilizers during the year. These 
defendants aver that the difference in rates established by the defendant Com- 
mission would upon the same amount of fertilizers have reduced the said 
income less than $10,000; and that these defendants believe and aver that had 
those rates been charged, the additional fertilizers which would have been 
transported over the Carolina Central Railroad would have made the income 
larger and the profits hardly less than those received upon the rates then exist- 
ing, and that if the defendant, the Carolina Central Railroad Company, had 
adopted the joint rates as fixed by said order of April 27, 1899, the receipts of 
said company from freights on fertilizers would have been larger than they 
actually were during said period of four months. 

And further answering, these defendants say: 

15. That the defendant, the North Carolina Corporation Commission, is a part 
of the government of the State of North Carolina, being under the act establish- 
ing said Commission a Court of Record of said State, and that the defendant 
Zeb V. Walser, Attorney-General, and Rudolph Duffy, C. M. McLean and J. M. 
Webb, Solicitors, etc., are officers of the State of North Carolina, and the said 
act, which imposes upon them the duty of bringing suits for violation of the 
orders of said Commission, being a constitutional act, these defendants are 
advised that a suit against them to enjoin them from performing their duties 
under said act is in effect a suit against the State of North Carolina, and this 
court has not jurisdiction of the same, and these defendants claim the benefit 
of this exception to the jurisdiction of this court just as if they had demurred 
to the bill on account thereof. 



COMPLAINTS AND DECISIONS. 



209 



Wherefore these defendants pray to be dismissed hence with their reasonable 
costs in this behalf unjustly expended. 

(Signed) Shepherd & Busbee, 
Battle & Mordecai, 
Simmons, Pou & Ward, 
Solicitors for said Defendants. 

Franklin McNeill, being duly sworn, says that he is the Chairman of the North 

Carolina Corporation Commission; that the facts stated in the foregoing answer 

as of his own knowledge are true, and those stated upon information and belief 

he believes to be true. 

(Signed) Franklin McNeill. 

Sworn to and subscribed before me this 4th day of August, 1899. 

(Signed) N. J. Riddick, Clerk. 



EXHIBIT 'X.'- 



Lilesville to Gibson 

Wadesboro to Gibson. __ 

Marshville to Gibson 

Monroe to Gibson 

Osborne to Wilmington 
Gibson to Wilmington . 

Ghio to Wilmington 

Monroe to Gibson 



29 B-C 
264 B- 
353 B-C 
,237 H-C 
136 B-C 
44 B-C 
34 B-C 
26 B-C 



C. C. 



II. 13 
90.75 
154.38 
557.58 
106. 78 
35-75 
31.76 
11.24 



R. & A. 



C. C. R.&A. 



114. II 
194. 10 
700. 83 
94-31 
31.59 
28.. 6 
14.13 



Miles. I Miles. 

24 I, 

25 I' 
33 I' 
53 I' 

no 

no I K 

no I ; 

53 i! 



210 



N. C. CORPORATION COMMISSION. 




COMPLAINTS AND DECISIONS. 211 

On the 13th day of September, 1899, the return day of said order to show 
cause, the defendants appeared before Judge Simonton at Chambers in Ashe- 
ville, and made return to said order to show cause. 

After argument of counsel for both sides the Court filed opinion as follows: 



THE UNITED STATES OF AMERICA.— EASTERN DIS- 
TRICT OF NORTH CAROLINA.— IN THE CIRCUIT 
COURT.— FOURTH DISTRICT.— IN EQUITY. 



Opinion, 
virginia b. matthews 

vs. 
THE BOARD OF CORPORATION COMMISSIONERS OF THE STATE OF 
NORTH CAROLINA, FRANKLIN McNEILL, SAMUEL L. ROGERS, E. C. 
BEDDINGFIELD, ZEBULON V. WALSER, CAROLINA CENTRAL RAIL- 
ROAD COMPANY, et al. 

The complainant is the holder of bonds of the Carolina Central Railroad 
Company, secured by a mortgage of its property and franchises. 

She comes into court complaining of the Board of Corporation Commissioners 
of the State of North Carolina, in that the said Board have so far reduced the 
rates of freight on fertilizers that the income of the railroad company is 
seriously impaired and its interest earning capacity is destroyed. 

The bill makes two Federal questions. 

1. That by the charter of this railroad company the exclusive right of fixing 
charges on passengers and freight carried by said company is vested in its 
board of directors; and that this interference by the Corporation Commission 
is invalid, as the act authorizing it impairs the contract of the charter. 

2. Because the rate imposed by the Corporation Commission is so unreasonable 
that it amounts to the taking of private property for public purposes without 
compensation. 

These two grounds will be examined. 

On 15th February, 1855, the General Assembly of North Carolina incorporated 
the Wilmington and Charlotte Railroad Compan5^ On the next day, by a supple- 
mental act the name of the company was changed into the Wilmington, Charlotte 
and Rutherford Railroad Company. 

The 17th section of the charter of this company provided: 

Be it further enacted. That the said company shall have the exclusive right 
of conveyance or transportation of persons, goods, merchandise and produce on 
said railroad to be constructed, at such charges as may be fixed upon by the 
board of directors. 

Under a decree for foreclosure of the Superior Court of Hanover County, 
entered at January Term, 1873, the property and franchises of the Wilmington, 
Charlotte and Rutherford Railroad Company were sold at public auction and 



212 N. C. CORPORATION COMMISSION. 

conveyed to one Timothy H. r^orter the conveyance was of "all the railroad 
known as the Wilmington, Charlotte and Rutherford Railroad, and also all and 
singular the corporate franchises, rights and privileges of said corporation." 

On 20th February, 1873, a little over two months before this sale, the General 
Assembly of North Carolina had incorporated the Carolina Central Railway 
Company. The 15th section of this charter authorizes the company to purchase 
the Wilmington, Charlotte and Rutherford Railroad at any sale thereof, "and 
all its contracts, franchises, rights, privileges and immunities." Under the 
authority of this act the said railroad was conveyed by Porter to the Carolina 
Central Railway, and among other things all the franchises, rights and privi- 
leges belonging in any way or appertaining to said corporation (the Wilmington, 
Charlotte and Rutherford Railroad) and to said railroad. 

A mortgage on the Carolina Central Railway was foreclosed on 15th March, 
1880, and a sale had thereunder. On the 25th June, 1880, under said sale a con- 
veyance was made of all the property, rights and franchises of the debtor com- 
pany to the Carolina Central Railway. This last-named corporation was organ- 
ized under a general law of North Carolina, regulating mortgages by corpora- 
tions and sales thereunder, ratified March 1, 1873. All this was confirmed by an 
act of the General Assembly of North Carolina, ratified January 18, 1881, entitled 
"An Act to perfect the organization of the Carolina Central Railroad Company." 
This act declares this company a lawfully organized corporation, succeeding to 
and legally possessed of all the rights, powers, privileges and franchises which 
were owned or possessed by the Carolina Central Railway Company prior to the 
sale. 

In 1868, North Carolina adopted a Constitution, and in Article 8, section 1, 
provided as follows: 

Corporations may be formed under general laws but shall not be created by 
special act except for municipal purposes, and in cases where, in the judgment 
of the Legislature, the object of the corporation can not be obtained under 
general laws. All general laws and special acts passed pursuant to this sec- 
tion may be altered from time to time or repealed. 

The Corporation Commission was created by an act of the General Assembly 
passed in 1899. 

The complainant contends that the Carolina Central Railway Company is the 
successor of the Wilmington, Charlotte and Rutherford Railroad Company, and 
entitled to all its rights, privileges and immunities by charter. That by the 
charter contract with the State as above quoted, the directors had the exclusive 
right to fix rates for passengers and freight. That the present company is 
entitled to set up this contract, and that any action of the State of North Carolina 
taking away this right to fix rates, violates he obligaiion of a contract and is 
void. 

Assuming that this is a contract between the State of North Carolina and the 
Wilmington, Charlotte and Rutherford Railroad Company, did it pass with the 
property and inure to each purchaser? 

The right of a State to legislate regarding railroads, regulating their charges, 
is sustained as an exercise of the police power. But it must be exercised in sub- 
ordination to the provisions of the Constitution of the United States. Lake 



COMPLAir^TS AND DECISIONS. 213 

Shore and M. S. Ry. Co. v. Smith, 173 U. S., G84, (19 Supreme Court Reports, 
567). "Usually," says the Court in Chicago, etc., R. R. v. Nebraska, 170 U. S., 
72, "where a contract, not contrary to public policy, has been entered into 
between parties competent to contract, it is not within the power of either party 
to wihdraw from its terms without the consent of the other; and the obligation 
of such a contract is constitutionally protected from hostile legislation. Where, 
however, the respective parties are not private persons, dealing with matters 
and thiijgs in which the public has no concern, but are persons or corporatioi^s 
whose rights and powers were created for public purposes, by legislative a^ts, 
and where the subject matter of the contract is one which affects tiie safety and 
welfare of the public, other principles apply. Contracts of the latter description 
are held to be within the supervising power and control of the Legislature when 
exercised to protect the public safety, health and morals, and that clause of the 
Federal Constitution which protects contracts from legislative action can not 
in every case be successfully invoked. 

"The presumption is that when such contracts are entered into it is with the 
knowledge that parties can not, by making agreements on subjects involving the 
rights of the public, withdraw such subjects from the police power of the Leg- 
islature." 

Following out this principle the courts have been loath to extend an immunity 
granted to a corporation beyond itself. They treat this as a personal privilege, 
not transmissible to its successors m any way. In Picard v. Tennessee, etc., 
R. R. Co., LSO I). S., at page 461, the Court says: 

"Yielding to the doctrine that immunity from taxation may be granted, that 
point being already adjudged, it must be considered as a personal privilege not 
extending beyond the immediate grantee unless otherwise so declared in express 
terms. It will not pass merely by a (conveyance of the property and franchise of a 
taxation." 

In C. & 0. R. R. Co. V. Miller, 114 H. S., 176, it was decided that 
au' immunity from taxation enjoyed by one i-ailroad company did not pass to a 
purchaser under foreclosure, although the act provided that the purchaser 
should forthwith become a corporation and should succeed to all such franchises, 
rights and privileges as would have been had by the original company but for 
such sale and conveyance. The reasoning of this opinion has peculiar appli- 
cation to the case at bar. The language of the clause which contains the 
exemption is explicit. It is "no taxation shall be imposed by the State until 
the profits of the company shall amount to 10 per cent on the capital of the 
company." But one company is spoken of and that is the company to be incor- 
porated under that act. The property to be exempt is the property of that com- 
pany- and no other, and while it continues to be the property of that company, 
and no longer." In Covington & L. Turnpike Company v. Sandford, 164 V. S., 
.57!>, the Court says: 

"It is as vital that the State should retain its control of tolls upon public high- 
v/ays as it is that it should not surrender or fetter its power of taxation. The 
right to regulate the rate is a power of the same character, and in the con- 
si ruction of language said to confer such, the same principle should be 
aiiplied." 



214 N. C. CORPORATION COMMISSION. 

In N. & W. R. R. V. Pendleton, 156 U. S., 667, quoted and affirmed in Coving- 
ton, etc., Turnpike v. Sandford, 164 U. S., 587: "In the absence of express 
statutory direction or of an equivalent implication by necessary construction 
provisions in restriction of the right of the State to tax the property or to regu- 
late the affairs of its corporations, do not pass to new corporations succeeding by 
consolidation or by purchase under foreclosure to the property and ordinary 
franchises of the first grantee." "This is a statutory rule of interpretation 
founded on an obvious public policy which regards such exemptions as in dero- 
gation of the sovereign authority and of common right, and therefore not to be 
extended beyond the exact and express requirements of the grant construed 
strictissimi juris.'" 

Several cases are quoted which sustain this conclusion "that a special statutory 
exemption or privilege, such as immunity from taxation or a right to fix and 
determine rates of fare, does not accompany the property in its transfer to a 
purchaser in the absence of express direction to that effect in the statute." St. 
L. & San F. Ry. Co. v. Gill, 156 U. S., 656; N. & W. R. R. Co. v. Pendleton, 156 
U. S., 673. See also Ga. Banking Co. v. Smith, 128 U. S., 174. It would seem 
under these authorities that this right in the directors to fix rates did not pass 
with the other property of the Wilmington, Charlotte and Rutherford Railroad 
Company to the successive purchasers at judicial sales. But apart from this 
see R. R. Commission cases, 116 U. S., 324. 

As has been seen, the Constitution of North Carolina provides: "Corporations 
may be formed under general laws, but shall not be created by special act, except 
for municipal purposes, and in cases where, in the judgment of the Legislature, 
the object of the corporations can not be obtained under general laws. All 
general laws and special acts passed pursuant to this section may be altered 
from time to time, or repealed." 

The corporation of the Carolina Central Railroad, defendant herein, owes its 
exitsence, and the possession and the right to the enjoyment of all its franches, 
entirely to the Act of Assembly "to regulate mortgages by corporations and sales 
under the same," Code of North Carolina, sees. 697-698, a general act, and to the 
special Act of January, 1881, to perfect the organization of the Central Rail- 
road Company. And these two acts owe their validity entirely to the Consti- 
tution of 1868. The general act provides that "upon conveyance to the pur- 
chasers at foreclosure sale, the said company, whose mortgage is foreclosed, shall 
ipso facto be dissolved and said purchasers shall forthwith be a corporation by 
any name which may be set forth in the conveyance." 

This being so, the corporation thus organized was a new corporation, and it is 
controlled by the principle established in Shields v. Ohio, 95 U. S., 319, and R. R. 
Co. V. Maine, 96 U. S., 499, and its charter may be altered, amended or repealed 
at the y/ill of the Legislature under the constitutional provision. 

If then it be admitted that this right to regulate rate charges was a part of 
the charter of this company, and is as if it were repealed in ipsissimis verbis, 
it was subject to the control of the General Assembly, and could be altered or 
repealed at its pleasure. This being so, the act creating the Corporation Com- 
mission and giving it the right to regulate the rates for railroads is an altera- 
tion of, and a repeal pro tanto of this charter. N. & W. R. R. Co. v. Pendleton, 



COMPLAINTS AND DECISIONS. 215 

supra; Hoge v. R. R. Co., 99 U. S., 348; Charlotte, etc., R. R. Co. v. Gibbes, 
142 U. S., 390; R. R. Co. v. Bristol, 151 U. S., 556. 

This action upon the part of the State does not impair the obligation of a 
contract. 

This leads to the second Federal question. 

Is the rate fixed by the Corporation Commission unreasonable? If so, this 
court can declare them invalid. Smyth v. Ames, 169 U. S., 526. 

There are many affidavits in this record bearing upon this question. No issue 
can be decided by affidavit with any degree of satisfaction. Before coming to 
any conclusion the Court needs the aid of a reference. Let an order be entered 
referring it to E. S. Martin, Esq., as Special Master, (the Standing Master being 
in this behalf disqualified), instructing him to inquire into the rates prescribed 
for the carriage of fertilizers and all facts bearing thereon, and specially as to 
their reasonableness, with leave to report any special matter. 

(Signed) Charles H. Simonton, 

Circuit Judge. 

31st October, 1899. 

Case now pending. 



216 N. C. CORPORATION COMMISSION. 



SEPARATE ACCOMMODATIONS FOR THE WHITE AND COLORED RACES 
ON PASSENGER TRAINS. 

At a session of the Commission on April the 27th, 1899, a letter was addressed to 
all the transportation com]janies in the State, as follows : 

"Your attention is called to that part of the Act of the General Assembly of 1899, 
being 'An Act to promote the comfort of travelers on railroad trains and for other 
purposes,' known as tlie Separate Car Act, which reads as follows : ' That all rail- 
road companies and steamboat companies engaged as common carriers in the trans- 
portation of passengers for hire in the State of Nortii Carolina other than street 
railways shall provide separate but equal accommodations for the white and colored 
races on all passenger trains and steamboats carrying passengers. Such accommo- 
dations may be furnished by railroad companies either by separate passenger cars 
or by compartments in passenger cars, which shall be provided by the railroads 
under the supervision and direction of the Board of Railroad (Commissioners or the 
officers succeeding to their p>vvers: Provided, that this shall not apply to relief 
trains in cases of accident, to Pullman or sleeping cars or through express trains 
that do not stop at ail stations and are not used ordinarily for traveling from sta- 
tion to station, to negro servants in attendance on their employers, to oflficers or 
guards transporting prisoners, n r to prisoners so transported. 

" 'The Railioad Commissioners of this State or the officers succeeding to their 
powers are hereby authorized to exempt from the provisions of this Act branch lines 
and narrow-gauged railroads if in their judgment the enforcement of this Act be 
unnecessary to secure the comfort of passengers by reason of the light volume of 
passenger traffic or the ^mall number of colored passenger travelers on such narrow- 
gauged or branch lines." 

" The Commission will, at its session on May the 8th next, take into consideration 
the matter of enforcing the provisions of this Act, and will, on that day, hear from 
any road that desires to be heard touching the matter."' 

On the day appointed for a hearing nearly every road in the State was repre- 
sented, either in person or by petition, asking for relief from the provisions of the 
Act for certain trains, and in most instances for all trains, upon the ground that 
the travel of both the white and colored races was quite small on certain trains and 
in certain sections, and that the revenue was inadequate and the expense of prepar- 
ing cars for a division of the races would be great. 

Some two days were consumed m the hearing, taking of testimony, etc. After 
mature deliberation, the Commission was of the opinion that all of the roads that 
came under the revisions of the Act above mentioned should comply with the 
same on or before June the 1st, 1899, with the exception of the Western North Caro- 
lina Railroad from Asheville to Murphy, and the several miscellaneous and branch 
roads on which only mixed trains are run. 



DECISIONS 

AND 

ADJUSTMENT of COMPLAINTS 



WILMINGTON TARIFF ASSOCIATION 

vs. 

SOUTHERN RAILWAY AND ATLANTIC COAST LINE. 

This was a petition and complaint filed by Jas. Kyle, Manager of the Wilming- 
ton Tariff Association, against the Southern Railway and Atlantic Coast Line.ask- 
ing the Commission to remove the existing discrimination in class rates to 
North Carolina points now in favor of Norfolk and other Virginia commercial 
points to the detriment of Wilmington — alleging as follows: 

That Wilmington is by reason of location and commercial importance the 
natural distributing point of North Carolina, and as such is entitled to more 
than ordinary consideration in the' matter of freight rates and other trans- 
portation facilities. The rates at present in effect, however, to points in North 
Carolina on the Southern Railway are such as to discriminate against Wil- 
mington in favor of Virginia points to such an extent as to debar the merchants 
of Wilmington from doing business m the territory mentioned which should be 
by reason of location naturally controlled by Wilmington. The territory to 
which we refer is that on the Southern Railway between Greensboro and Char- 
lotte, Greensboro and Wilkesboro, Winston and Mocksville, High Point and 
Asheboro, Salisbury and Norwood and Salisbury and Asheville. The freight 
rates from Richmond and Norfolk to these points are lower than from Wil- 
mington, although Wilmington is nearer than either of the Virginia points 
mentioned. Wilmington, under the present adjustment of interstate rates, is 
compelled to pay a higher rate of freight in order to receive its supplies, and is 
also com.pelled to pay a higher rate than the Virginia points to the points of 
distribution in North Carolina as mentioned in this petition. Under such cir- 
cumstances it is impossible for our merchants to do business in the central and 
western portions of the State. The adjustment of rates from Wilmington to 
the territory indicated, making our rates the same as those in effect from Vir- 
ginia cities, would afford considerable relief to our merchants and at the same 
time result in a proper and just adjustment of the rates themselves. It is inex- 
plicable to us how the railroads operating can under such circumstances insist 
on charging us more than they do points outside of our State which are a 
greater distance from the points of destination than our city, especially in view 

1 15 



218 N. C. CORPORATION COMMISSION. 

of the fact that the points which they favor are nov/ enabled to receive their 
supplies from the West and North at considerably less rates than ours. I have 
not enumerated these rates to the various points, but if the Commission desires 
at the time of hearing, will present authorized tariffs supporting our petition in 
the event that the defendants deny the correctness of our statements. The peti- 
tioners therefore petition the North Carolina Corporation Commission in justice 
to our city to issue an order requiring that the same freight rates be issued 
from Wilmington to the territory embraced in this petition as are now made 
effective from Virginia commercial points. 

We do not ask that the rates from Wilmington be reduced, provided the rail- 
roads will instead increase the rates from Virginia commercial points to the 
same as are now charged us, in other words, we are net seeking to reduce or 
break dov/n the present rates but simply desire that we be placed on the same 
basis of equality as our commercial rivals in Virginia. 

Copy of complaint was served on defendants with notice of hearing. 

At a session of the Commission at Raleigh, May 8, 1899, this case was called, 
and letter was read from complainants stating that defendants had granted the 
relief demanded, and asked leave to withdraw complaint, which was granted. 



pertilizer F^atcs. 



At the session of the Commission on April 5, 1899, Col. John S, Cunningham, 
President of the State Board of Agriculture, appeared and asked that the matter 
of fertilizer rates be considered and a day fixed for a hearing. 

Thereupon, the Commission, on April 10, 1899, addressed a communication to 
the various roads in the State to the effect that on April 24, 1899, the matter of 
reducing the carload minimum on fertilizers from fifteen to ten tons would be 
taken into consideration. On April 17th and 19tli, respectively, the State Board 
of Agriculture and the North Carolina Farmers' Alliance filed their written 
complaints, alleging as follows: 

"That the defendants are common carriers engaged in the transportation of 
passengers and property between points in North Carolina, and as such common 
carriers are subject co the act of the General Assembly to establish the North 
Carolina Corporation Commission providing for the general supervision of 
railroads, steamboats and canal companies, express and telegraph companies, 
doing business in the State of North Carolina. 

"That the defendants had increased the tonnage or minimum carload on fer- 
tilizers from 10 tons to 15 tons minimum, and that the said increase worked a 
hardship on the farmers of the State and the small dealers, and the interest 
of such farmers and dealers required a reduction from 15 tons of fertilizer to 10 
tons minimum." 

The petitioners asked that the defendants be required to reduce the carload 
minimum on fertilizers from 15 tons to 10 tons minimum, and otherwise revise 
the schedule of rates. 

On April 24, 1899, the day set for the consideration of the subject matter of 
the complaint, Traffic Managers of the Atlantic Coast Line system of roads. 
Southern Railway, Seaboard Air Line system of roads, and other roads in the 
State, appeared before the Commission and were heard at length. Complain- 
ants were represented by R. H. Battle, Attorney; John S. Cunningham, President 
of the State Board of Agriculture, and T. B. Parker, State Agent of the North 
Carolina Farmers' Alliance. 

The Commission, .after hearing argument by the representatives of the 
various roads and of the plaintiffs, after careful consideration, granted the 
relief demanded by petitioners in an order which reads as follows: 



220 



JJ. C. CORPORATION COMMISSION. 



Circular No 1. 
RATES OF FREIGHT ON FERTILIZERS. 

C. L. TEN (10) TONS MINIMUM. PER TON 2,000 POUNDS. 

Raleigh, N. C, April 27, 1899. 

On and after the 15th day of May, 1899, the maximum freight rates on fertilizers 
on all railroads in this State will be as follows : 



5 miles 

10 miles 

15 miles 

20 milies 

30 miles 

40 miles 

50 miles 

60 miles 

70 miles 

80 miles 

go miles 

100 miles 

no miles 

120 miles 

130 miles 



and under 

and over 5. 
and over 10. 
and over 15. 
and over 20 . 
and over 30 . 
and over 40 . 
and over 50 . 
and over 60 . 
and over 70. 
and over 80. 
and over 90. 
and over 100 . 
and over no . 
and over 120. 



Per Ton 



50.60 
.80 
1,00 
1. 10 
1. 20 
1.30 
1.40 
1.50 
1.60 
1.70 
1.80 
1.90 
2.00 
2. 10 
2.20 



140 miles and over 130 . 
150 miles and over 140. 
160 miles and over 150 . 
170 miles and over 160 . 
180 miles and over 170. 
190 miles and over 180 . 
200 miles and over 190 . 
210 miles and over 200. 
220 miles and over 210 . 
230 miles and over 220 . 
240 miles and over 230 . 
250 miles and over 240 . 
260 miles and over 250 . 
270 miles and over 260. 



Per Ton. 



$2.30 
2.40 
2.50 
2.55 
2.60 
2.65 
2.70 
2.75 
2,80 
2.85 
2.90 
2.95 
3.00 
3.05 



On less than c-ar-load shipments, rates may be made 20 per cent higher than 
above. he joint rates on two or more roads, not under the same management or 
control, shall be made on the basis of the sum of the locals of each road, less 20 per 
cent. 

By order of the Commission. 



Franklin McNeill, Chairman. 



H. C. Brown, Clerk. 



The Seaboard Air Line system of roads filed exceptions to the reduction 
of the rates as promulgated by Circular No. 1, as follows: 

1. Because the said reduction in the minimum carload rate is directly antag- 
onistic to the effort being made generally to the road's expenses through the 
furnishing of the equipment of larger capacity, and involves an increase in the 
cost of transportation. 

2. Because the said rates are not in themselves reasonable and just, but the 
same are unreasonably low, would fail to yield a just and reasonable revenue 



COMPLAINTS AND DECISIONS 221 

for the services and the defendants would thereby be deprived of the equal 
protection of the laws, contrary to the Constitution of the United States, Article 
14, sec. 1, and without due process of law would be deprived of their property, 
contrary to the Constitution of the United States, Article 14, sec. 1. 

3. Because the figures established for the tons minimum were unreasonably 
low, even when applied on carloads of 15 tons minimum, were protested against 
before the North Carolina Railroad Commission, and only accepted by the car- 
riers after the 15 ton minimum basis was made a part of the tariff, and then in 
so far as the carriers composing the Seaboard Air Line system were concerned, 
with understanding that they would be given a trial for the session of 1898-99 
only. 

4. Because Circular No. 1 makes no exceptions in favor of weaker lines, 
whose earnings are at a lower rate per mile, which lines are unable to exist at 
a lower rate than those sought to be instituted. 

5. Because such rates unjustly reduce the revenue of lines formerly allowed a 
percentage of rates above the stronger or standard lines, thus resulting in an 
unfair reduction, greater in the case of one line than another. 

At a session of the Commission May 8, 1899, argument of counsel was heard 
on exceptions, and after consideration it was ordered that the exceptions be 
overruled and order, as contained in Circular No. 1, be confirmed. 

The Carolina Central Railroad, one of the defendant roads of the Seaboard 
Air Line system, filed a bill of complaint in the United States Court for the 
purpose of enjoining the Commission from the enforcement of the order, which 

proceedings are set out fully on page of this report. The other roads of 

the Seaboard Air Line system appealed from the order of the Commission to the 
Superior Court of Wake County, where the cases are now pending. 

At a subsequent meeting of the Commission, exceptions of the Atlantic Coast 
Line,, Southern Railway and other roads were heard. The exceptions being 
overruled, all these roads promptly acquiesced in the order. Every road in the 
State, with the exception of the Seaboard Air Line system of roads, is 
conforming to and applying the rates as promulgated by Circular No. 1. 



STATE OF NORTH CAROLINA, ON RELATION OF THE NORTH CAROLINA 
CORPORATION COMMISSION, 
vs. 
THE SOUTHERN BELL TELEPHONE AND TELEGRAPH COMPANY. 

Raleigh, May 11, 1899. 
The Commission in regular session, this day having considered the matter 
of telephone rates, issued an oraer fixing rates as follows: 



222 



N. C. CORPORATION COMMISSION. 



Circular No. 4. 

TELEPHONE RATES. 

May 11, 1899. 

On and after the first day of June, 1899, all Telephone Companies within this 
State, whether incorporated or otherwise, will be allowed a maximum charge for 
service, as follows, viz : 



PLACE OF BUSINESS 

Special wire 

2- and 3-party wire (each) 

4- and 5-party wire (each) 

RESIDENCE. 

Special wire 

2- and 3-party wire (each) 

4- and 5-party wire (each) 



$30. 00 
24.00 
18.00 

18.00 

' 16. 00 

14.00 



By order of the Commission. 
H. C. Brov^n, Clerk. 



Franklin McNeill, Chairman. 



This tariff does not apply to services rendered outside the corporate limits of any 
city or town. 



On May 20, 1899, the Southern Bell Telephone and Telegraph Company and 
the American Telephone and Telegraph Company filed exceptions as follows: 

The Southern Bell Telephone and Telegraph Company, a corporation existing 
under and by virtue of the laws of the State of New York, without waiving any 
of its rights, under the law regulating appeals, excepts to the ex-parte order 
of the North Carolina Corporation Commission contained in their Circular 
No. 4, fixing, or attempting to fix, the rentals of telephone instruments and the 
use of exchange service, on the ground that under what is known as a Corpora- 
tion Commission Act, passed by the Legislature of North Carolina during the 
year 1899, the said Corporation Commission had no authority or jurisdiction to 
enter the said order. That the jurisdiction given does not extend to com- 
panies or corporations operating the telephone exchange, except such as may 
apply to those operating telephone instruments upon the message or toll system. 

2. That the said order as contained in Circular No. 4 does not apply to the 
said Southern Bell Telephone and Telegraph Company, and that the said Cor- 
poration Commission was without jurisdiction or authority to make it apply to 
the said company, for that the said company is a corporation operating tele- 
phone exchanges, not renting telephone instruments or telephones, and the 



COMPLAINTS AND DECISIONS. 223 

jurisdiction of the said Commission is only to make just and reasonable rates of 
charges for the rental of telephones. 

3. That the said order contained in said Circular No. 4 was made without 
notice to the said Southern Bell Telephone and Telegraph Company and without 
giving it an opportunity to be heard, and without evidence having been consid- 
ered by the said Corporation Commission. 

That even if the said Corporation Commission had the power to fix such rates, 
yet it was necessary for the said Commission to have testimony before it under 
the act of its creation, being the said Corporation Commission Act passed by 
the Legislature of North Carolina during its session of 1899, and that the said 
order is therefore illegal and void. 

4. That the General Assembly of the State of North Carolina from which the 
said Corporation Commission derived its power, authority and existence, did not 
give or attempt to give the said Commission the power to make an arbitrary 
rate, and the said rates as per said order being arbitrary are void. 

5. That if the said General Assembly attempted to give said Commission the 
power or authority to make arbitrary rates, the said rates as per said order, 
being arbitrary, are null and void, it being beyond the power of the said 
General Assembly to give said powers aforesaid. 

6. That the said rates prescribed or fixed in said order are not fair, just or 
reasonable. That to operate thereunder would cause the said company to oper- 
ate at a loss or without a profit, which the Commission has no right or power to 
do in that it would be a violation of the Constitution of North Carolina and of 
the United States. 

(a.) That it would be in violation of the provisions of the Fifth Amendment 
of the Constitution of the United States by taking the property of said company 
for public use without just compensation. 

(b.) That it would be in violation of the provisions of sec. 1 of the Fourteenth 
Amendment of the Constitution of the United States in depriving said com- 
pany of its property without due process of law and without just compensa- 
tion, and would deny said company the equal protection of the laws. 

(c.)That it would be in violation of the provisions of sec. 8 of Article 1 
of the Constitution of the United States. 

(d.) That it would be in violation of the provisions of the Act of Congress 
passed July 24, 1866, and entitled "An Act to aid in the construction of telegraph 
lines and to secure to the government the use of the same for postal, military 
and other purposes," being sees. 5263 and 5268 inclusive, of the Revised Statutes 
of the United States, and which provision had been duly accepted by the South- 
ern Bell Telephone and Telegraph Company, according to the requirements of 
the said act. 

(e.) That it would be in violation of the provisions of the Constitution of 
the United States. 

(f.) That it would be in violation of the Constitution of North Carolina in 
this: that it would deprive the said company of its property without due process 
of law, and would deprive it of the equal protection of the laws. 

7. That to require said company to operate, or conduct its business at the 
rates prescribed in said order, would be an unlawful appropriation of its prop- 
erty without just compensation. 



224 



N. C. CORPORATION COMMISSION. 



8. That so much of the said Corporation Commission Act as applicable to tel- 
ephone companies is void in that it provides for an appeal from the orders of 
said Conimission, wherein is involved the charges for transportation for pas- 
sengers or freight or cars by railroad companies or for charges by express 
companies, and does not provide for an appeal by telephone companies. 

9. That on the 7th day of January, 1898, by Circular No. 73, the Board of 
Railroad Commissioners of North Carolina attempted to establish the same 
rates as set forth in the order above referred to, to which exceptions were 
filed as set forth in an exhibit marked "A", and attached hereto, and asked to 
be taken as a part of these exceptions. 

On July 29, 1899, a hearing on the exceptions was given. Senator John Daniel, 
R. C. Strong and A, B. Andrews, Jr., appearing for defendants. After hearing 
argument of counsel it was ordered that Circular No. 4 be modified to read as fol- 
lows: 

On and after June 1, 1899, all telephone companies within this State, whether 
incorporated or otherwise, will be allowed a maximum charge for rental of 
telephones as follows: 



PLACE OF BUSINESS 

Special wire 

2- and 3-party wire (each) 

4- and 5-party wire (each) 

RESIDENCE. 

Special wire 

2- and 3-party wire (each) 

4- and 5-party wire (each) 



Per Year. 



I30. 00 
24.00 
18,00 

18.00 
16.00 
14.00 



This tariff does not apply to rental of telephones for long distance service nor 
to telephone lines constructed after March 6, 1899, nor to telephone instruments 
connected with exchanges giving interstate connection. 

Exception No. 1 is overruled. 

Exception No. 2 is overruled. 

Exception No. 3 is overruled. 

The order was made without notice to the Southern Bell Telephone and Tel- 
egraph Company and without giving it an opportunity to be heard, but was not 
made without evidence having been considered by the Corporation Commission. 

Exception No. 4 is overruled. 

It is conceded that the General Assembly did not give or attempt to give the 
Corporation Commission the power to make an arbitrary rate, but the rates as 
per said order were not arbitrary and are not void. 

Exception No. 5 is overruled. 

The rates were not arbitrary, but were made after full and careful investiga- 
tion and comparison, as directed by the statute. 



COMPLAINTS AND DECISIONS. 225 

Exception No. 6 is overruled. 

There was no evidence to sustain this exception. Defendants were informed 
that the Commission would hear any evidence they might offer, but defendants 
declined to offer any evidence. 

Exception No. 7 is overruled. 

There was no evidence to sustain it. 

Exception No. 8 is overruled. 

Exception No. 9 is overruled. 

Exception No. 10 is overruled, and the order so modified as to conform to 
the words of the statute. 

Exception No. 11 is overruled and the order modified as hereinbefore stated. 

Exception No. 12 — The order is modified so as to express the proviso in the 
statute. 

The defendant, the Southern Bell Telephone and Telegraph Company, through 
its attorney, R. C. Strong, filed notice of appeal to the Superior Court. Bond 
filed and case now pending in Wake Superior Court. 



CITIZENS OF CROUSE 

vs. 

CAROLINA CENTRAL RAILROAD COMPANY. 

Complaint by the citizens of Crouse, alleging that the small depot at that 
place was wholly inadequate for the handling of freight, and that the citizens 
were put to great inconvenience on account of same. 

Furthermore, there was neither freight or ticket agent. 

That the town of Crouse was discriminated against in favor of other towns 
which do much less business, and were provided with good depot facilities. 

The petitioners asked that the Commission pass an order granting the relief 
prayed for. Complaint was served on defendant with request for answer, and 
hearing set for June 13, 1899. 

It appearing at the hearing that the revenue derived from freight at Crouse 
amounted to $4,437, and from passengers $1,445, the Commission was of the 
opinion that the citizens of Crouse should be provided with better depot 
accommodations and the establishment of an agency, and it was so ordered. 



226 N. C. CORPORATION COMMISSION. 



STATE OF NORTH CAROLINA, ON RELATION OP THE NORTH CAROLINA 
CORPORATION COMMISSION, 
vs. 
THE MERCANTILE TRUST AND DEPOSIT CO. 

This was a petition filed by J. W. Hinsdale, attorney for the State of North 
Carolina, alleging that the Mercantile Trust and Deposit Company of Baltimore, 
or the Seaboard and Roanoke Railroad Company, or the Raleigh and Gaston 
Railroad Company, or the Raleigh and Augusta Air Line Railroad Company,were 
the owners of and liable for taxes on certain rolling stock used in the transpor- 
tation of interstate traffic and running through the State of North Carolina, that 
has never been listed for assessment and taxation in North Carolina by either of 
said companies, except for the years 1898 and 1899, and asking that the Com- 
mission assess the property for the years 1894-5-6 and 7. The relief was sought 
by virtue of chap. 678, Laws of 1899, page 874, which provides that "It shall be 
the duty of Railroad Commissioners,the North Carolina Corporation Commission, 
or such board as shall succeed to their duties, to value and assess such prop- 
erty as has escaped taxation for five years prior to the current year at the 
time when they value and assess other railroad property for taxation." 

Notice was served on defendants to appear and answer the petition at a session 
of the Commission July 25, 1899. Defendants were represented by John D. 
Shaw, attorney, and John W. Hinsdale, for the State. 

Defendants, in answer, say: 

The Mercantile Trust and Deposit Co, is a corporation created and organized 
under the laws of the State of Maryland, office in JbJaltimore. The Car Trust 
Association is composed of members and a board of managers, no one of whom 
resides in the State of North Carolina. 

The rolling stock of the Car Trust Association, operated by the Seaboard Air 
Line, is used almost entirely in interstate traffic. The title of said rolling stock 
is in the Mercantile Trust and Deposit Company, for the benefit of the Car 
Trust Association. The Seaboard Air Line has use of same by virtue of con- 
ditional sale. 

This rolling stock was then bought by certain roads in the Seaboard Air Line 
system for the interstate traffic of the whole system, and the interest of these 
roads in this rolling stock has been regularly reported each and every years to 
the Board of Railroad Commissioners, and by it not considered liable to taxa- 
tion in North Carolina until last year. In making the assessment for taxation 
the Board had before it each year the obligation and contract of the Seaboard 
Air Line for this rolling stock and, doubtless took into consideration in mak- 
ing the assessments, as it did, mortgage and all other conditions and surround- 
ings. It was not assessed specifically as rolling stock, for the reason that 
being the property of nonresidents no part of it was thought to be liable, and 
even to-day the law in regard to this is unsettled. 

In many States, including North Carolina, it is held that rolling stock of 
nonresidents is taxable in the State where the owner resides. Bassi v. R. R., 
105 N. C. 



COMPLAINTS AND DECISIONS. 227 

Rolling stock leased or conditionally sold by a Car Trust Association is taxa- 
ble where the Car Trust has its place of business. 24 Am. and Eng. R. R. 
Cases, 626. 

After argument of counsel and consideration, it appeared to the Commission 
that this property had been used over the Seaboard and Roanoke Railroad, the 
Raleigh and Gaston Railroad, the Raleigh and Augusta Air Line Railroad in 
North Carolina; and it further appearing that these roads were practically the 
owners of said rolling stock, it was adjudged and so ordered that the Seaboard 
and Roanoke Railroad Company be assessed for taxation on rolling stock for the 
years 1894, '95, '96 and '97, at a valuation of $103,055. The Raleigh and Gaston 
Railroad on a valuation of .$276,186. The Raleigh and Augusta Air Line Rail- 
road on a valuation of $238,124. These companies acquiesced promptly in the 
order of the Commission and paid the taxes on above valuation. 

Closed. 



CITIZENS OF CERRO GORDO 

vs. 

WILMINGTON, COLUMBIA AND AUGUSTA RAILROAD. 

This was a petition from the citizens of Cerro Gordo, asking that defendant 
company be required to erect a freight and passenger station and establish an 
agency at that place. Petitioners alleged that they were put to great inconven- 
ience on account of there being no agent at that place to receipt for goods, and 
that the train has to be flagged in order that freight may be received and put on. 

That freight, when delivered, is put upon the platform with no one to look 
after or be responsible for it. 

That goods of general merchandise, guano, etc., to the value of $40,000 is 
received annually, and that freight shipped from Cerro Gordo to various other 
places, consisting of spirits of turpentine, cotton, tobacco, tar, shingles, logs, 
cotton-seed, potatoes, beans, lettuce, melons and strawberries would exceed in 
value $40,000. 

Defendant, in answer to the complaint, says: That the company has a small 
warehouse at Cerro Gordo sufficient to accommodate the freight, and also an 
agent who looks after the business in connection with other business. 

That the records show that for the past six months the passenger business 
averaged two passengers to and two passengers from, and there had been 
handled from the station an average of three tons of freight per day, and 
that to be forced to build a large station and put to the expense of a salaried 
agent would work a hardship. 

Hearing of the complaint was fixed for Monday, May 8, 1899, and defendant 
was requested to file on that day statement showing receipts from freight and 
passengers at that point for the twelve months passed. 

The case was called on May 8, 1899, when J. L. Williams appeared and was 
examined for petitioners. J. R. Kenley, General Manager of defendant com- 



228 N. C. CORPORATION COMMISSION. 

pany, was present and filed statement of earnings for twelve months, which 
showed total passenger revenue received, $473.30. Total freight revenue 
received, $1,971.37. 

Upon further consideration and investigation it appeared to the Commission 
that the citizens of Cerro Gordo should be provided with a building of suffi- 
cient dimensions to accommodate the business of the place, and to establish an 
agency. 

It was so ordered. 



CITIZENS OF MAXTON 

vs. 

CAROLINA CENTRAL RAILROAD COMPANY, AND THE ATLANTIC AND 

YADKIN RAILROAD COMPANY. 

Petitioners complain in this case that defendants had failed to carry out an 
order of the former Railroad Commission to erect a joint passenger station at 
Maxton. 

At a session of the Commission on July 26th, upon investigation it appeared 
that the prayer of the petitioners should be granted, and it was ordered that the 
defendants erect a suitable joint passenger station within sixty days. 



J. F. MILLS 

vs. 

THE ATLANTIC COAST LINE AND SEABOARD AIR LINE. 

Complainant, who is engaged in the livery business at Wilmington, alleged 
discrimination against him to the detriment of his business, in that defendants 
issue a certain pass to McMillan & Cowan, a firm doing a livery business in 
the city of Wilmington, and suffers and permits the said McMillan & Cowan 
to send over their lines a servant or employee of the said McMillan & Cowan, 
and suffers and permits the said employee to solicit from the passengers upon 
said lines their checks for baggage. That said checks so held by the passengers 
are surrendered to the employee of the said McMillan & Cowan, and the bag- 
gage of said passenger is delivered at any part of the city for the charges agreed 
upon by and between the said passenger and employee. 

That the result of the conduct of the said railroads in issuing passes and 
permitting the issue on their trains for the purpose as above set forth, has 
absolutely thrown in the hands of the one livery establishment named above 
the control of all the baggage that comes to the city of Wilmington. 



COMPLAINTS AND DECISIONS. 229 

The complainant asked that the said railroad companies he required to pre- 
vent any further discrimination, and that they be estopped from issuing any 
passes whatsoever to any person or persons for the purpose of conducting busi- 
ness as liverymen. 

Defendants, in answer to the complaint, say: 

That it is true that they have made a contract with Cowan & Company 
whereby said Cowan & Company are given the right to place agents for bag- 
gage solicitors on their regular trains entering Wilmington, but the same is not 
in violation of any law of the State. By chap. 108 of the Laws of 1879 it was 
prohibited, but that act was repealed by the General Assembly of 1899, if it 
was not already repealed by the failure to bring it forward in the court. 

That it is highly conducive to the convenience and the comfort of the trav- 
eling public to have a transfer agent on the train in order that he may take 
charge of all checks and baggage and save passengers the trouble and annoy- 
ance of attending to these matters after the arrival of the train. That this is 
the custom in all large cities, and the defendants have made this contract in 
the desire to promote the comfort of their passengers. 

That it is not practicable to have every baggage man represented on the 
train. 

Defendants filed copy of contract with S. P. Cowan & Co., which provides that 
said solicitors in soliciting baggage checks of passengers on incoming trains 
shall do so at such times and places as the conductors of said trains shall sev- 
erally designate, and shall do so m such orderly and respectful manner as not 
to annoy or offend passengers on said trains. Said solicitors shall not conduct 
any other business than that designated on said trains, and especially shall not 
act as solicitors for hotels, restaurants, merchants, or others. 

Said solicitors shall wear a distinctive badge, indicative of their occupation, 
subject to the approval of the General Manager of said railroad companies. 

At a session of the Commission September 5, 1899, this case was called, and 
argument of counsel of both plaintiff and defendant was heard, and after care- 
ful consideration the Commission was of the opinion that no unjust or unreason- 
able discrimination existed in this case, and same was dismissed. 



CITIZENS OF SHELBY 

vs. 

THE WESTERN UNION TELEGRAPH COMPANY. 

This was a petition sigiied by one hundred or more of the citizens of Shelby, 
asking that the Commission require the Western Union Telegraph Company to 
establish and maintain a telegraph office at some convenient point in the busi- 
ness portion of the town of Shelby. 

The petitioners alleged that the office of defendant company is at present, 
and has been for several years past, located at the Carolina Central depot in said 
town. That said depot is from one-half to three-quarters of a mile from the 



230 N. C. CORPORATION COMMISSION. 

business part of Shelby, and that the telegraph office is inaccessible and most 
inconvenient to the majority of the patrons of said omce. 

That the town of Shelby has a population of more than two thousand inhab- 
itants, and will support a telegraph office, and that said company could main- 
tain the office desired by the citizens of Shelby without loss to said company. 

This complaint and petition was served on J. B. Tree, Superintendent of 
defendant company, requesting that he make answer to the complaint or grant 
the relief desired. 

To this communication, defendant replied that his company was disposed to 
grant the relief asked. 

At a session of the Commission October 2, 1899, it appearing that the relief 
asked had been given, and no further action desired, the case was closed. 



CITIZENS OF ROCKY MOUJNT 

vs. 

THE WESTERN UNION TELEGRAPH COMPANY AND THE SOUTHERN 

EXPRESS COMPANY. 

This was a petition from the citizens of Rocky Mount, asking that the Com- 
mission issue an order requiring the Western Union Telegraph Company and 
the Southern Express Company to establish offices in a convenient part of the 
town. 

Petitioners alleged that the offices of both these companies are situate in the 
extreme southern part of the town, while the entire business of the town is at 
the other end, and the business men are subjected to the expense, inconvenience 
and trouble of having to walk the entire length of the town in order to send a 
telegram or to get express. 

Copies of complaint and petition were served on defendants with request to 
grant the relief demanded, or answer. 

Both the Western Union Telegraph Company and the Southern Express 
Company answerea, expressing a willingness to grant the relief demanded. 

At a session of the Commission, November 1, i899, it appearing that the 
relief asked had been given, and no further redress desired, the case was 
closed. 



COMPLAINTS AND DECISIONS. 231 



W. L. HUME 

VS. 

TRANSYLVANIA RAILROAD COMPANY. 

Complairant in this cause alleged that the track of defendant's road was in 
bad condltiop., ard that the engine and the train running from Hendersonville 
to Brevard on reaching Brevard was not turned, but run backwards to Hender- 
sonville, which made it liable to be wrecked, and run with great danger to 
passengers. 

Answering the complaint, J. T. Hayes, Manager of the defendant company, 
replied that his company had only recently come in possession of the property, 
but had spent over $12,000 in equipment, several thousand dollars in better- 
ments, and were using all diligence in repairing the condition of the road-bed, 
replacing old ties with new, replacing wooden culverts with new, and adding 
new engines and cars, and that a turn-table was being built at Brevard. At a 
session of the commission, November 1, 1899, it appearing from a report made 
by Commissioner Rogers, who had made an inspection of the road, that the 
road-bed, culverts and bridges were being greaily improved, and its equip- 
ment increased, and that work was going on rapidly in accordance with the 
answer of defendant, that a "Y" had been completed for turning engine and the 
company seemed to be doing all that was necessary towards putting the road 
in good and safe condition; it appearing that no rurther action should be 
taken, the case was closed. 



w. H. Mcdonald and others, citizens op enpield, 

vs. 
the WILMINGTON AND WELDON RAILROAD COMPANY. 

W. H. McDonald, in behalf of the citizens of Enfield, addressed a letter to the 
Commission, and this was followed by numerous other letters from the citizens 
of Enfield, all complaining of the present schedule of trains and the need of 
better mail and passenger facilities. Petitioners alleged that Enfield is a town 
of 1250 inhabitants, 15 stores, 2 large tobacco warehouses, 7 large tobacco 
prizeries and stemmeries, a bank, and numerous other business enterprises, all 
of which were greatly inconvenienced on account of the failure to have proper 
facilities for mail and passengers. That only one mail left for the North and 
one for the South daily. 

Copy of complaints were served on defendant, and an answer was filed 
through Mr. J. R. Kenley, General Manager of defendant company, on August 
31st, saying that he would take up with his company the matter of better pas- 
senger facilities for the line between Rocky Mount and Weldon, but that noth- 
ing could be done before the fall business started up. 



232 N. C. CORPORATION COMMISSION. 

At a session of the Commission December 6, 1899, and after further cor- 
respondence, defendant agreed to put on an extra local passenger train between 
Rocky Mount and Richmond, with the understanding that if there was not 
sufficient business to justify it the train would be withdrawn. 

This schedule and increased service being perfectly satisfactory to the citi- 
zens of Enfield, the case was closed. 



Circulars. 



Circular No. 1. 
RATES OF FREIGHT ON FERTILIZERS. 

C. L. TEN (10) TONS MINIMUM. PER TON 2,000 POUNDS. 

Raleigh, April 27, 1899. 

On and after ,the 15th day of May. 1899, the maximum freight rates on fertilizers 
on all railroads in this State will be as follows : 



5 miles 
10 miles 
15 miles 
20 miles 
30 miles 
40 miles 
' 50 miles 
60 miles 
70 miles 
80 miles 
90 miles 
100 miles 
no miles 
120 miles 
130 miles 



and under __. 
and over 5 _ 
and over 10 - 
and over 15 . 
and over 20 . 
and over 30 - 
and over 40. 
and over 50. 
and over 60. 
and over 70 . 
and over 80 . 
and over 90. 
and over 100. 
and over no. 
and over 120. 



Per Ton, 



|o. 60 
.80 



1.20 
1.30 
1.40 
1.50 
1.60 
1.70 
1.80 
1.90 
2.00 
2. 10 
2.20 



140 miles 
150 miles 
160 miles 
170 miles 
180 miles 
190 miles 
200 miles 
210 miles 
220 miles 
230 miles 
240 miles 
250 miles 
260 miles 
270 miles 



and over 130. 
and over 140. 
and over 150. 
and over j6o. 
and over 170. 
and over 180. 
and over 190. 
and over 200. 
and over 210. 
and over 220. 
and over 230. 
and over 240 . 
and over 250. 
and over 260. 



Per Ton. 



$2.30 
2.40 
2.50* 
2.55 
2.60 
2.65 
2.70 
2.75 
2.80 
2.85 
2.90 
2.95 
3- 00 
3.05 



On less than car-load shipments, rates may be made 20 per cent higher than 
a Dove. The joint rates on two or mor? road:?, not under the same management or 
control, shall be made on the basis of the sum of the locals of each road, less 20 per 
cent. 

By order of the Commission. 

Franklin McNeill, Chairman.. 

H. C. Brown, Clerk. 



■16 



234 N. C. CORPORATION COMMISSION. 



Circular No. 2. 

STANDARD PASSENGER RATES AND RULES GOVERNING THE 
TRANSPORTATION OF PASSENGERS. 

Ralkigh, April 24, 1899. 
The Standard Passenger Tariff and the Rules Governing the Transportation of 
Passengers, as appear on page 89, to and including Rule 18 on page 41, excepting Rule 
12, of the report of the Board of Railroad Commissioners for the year 1898, are 
adopted and made the Standard Passenger Rate and the Rules Governing the Trans- 
portation of Passengers of the North Carolina Corporation Commission. 
By order of the Commission. 

Franklin McNeill, Chairman. 
H. C. Brown, Clerk. 



Circular No. 3. 



RULES GOVERNING THE TRANSPORTATION OF FREIGHT. STANDARD 

FREIGHT TARIFF. 

Raleigh, April 27, 1899. 
The Rules Governing the Transportation of Freight, as appear on pages 42 to 52, 
inclusive, and the Standard Freight Tariff on page 53 of the report of the Board of 
Railroad Commissioners for the year 1898, are adopted and made the Rules Govern- 
ing the Transportation of Freight and the Standard Freight Tariff of the North 
Carolina Corporation Commission. 
By order of the Commission. 

Franklin McNeill, Chairman. 
H. C. Brown, Clerk. 



Circular No. 4. 
TELEPHONE RATES. 

Raleigh, May 11, 1899. 
On and after the first day of June, 1899, all Telephon^e companies within this 
State, whether incorporated or otherwise, will be allowed a maximum charge for 
rental of telephones, as follows, viz: 



COMPLAINTS AND DECISIONS. 



235 



Place of Business. 
Special wire 

2- and 3-party wire (each) 

4- and 5-party wire (each) 

Residence. 

Special wire 

2- and 3-party wire (each) 

4- and 5-party wire (each) 



$30. 00 
24,00 
18.00 

18.00 
16.00 
14.00 



By order of the Commission. 
H. C. Brown, Clerk. 



Franklin McNeill, Chairman. 



This tariff does not apply to rental of telephones for long distance service nor to 
telephone lines constructed after March 6, 1899, nor to telephone instruments con- 
nected with exchanges giving Interstate connection. 



Circular No. 5. 
STANDARD TELEGRAPHIC RATES. 

Raleigh, May 11, 1899. 
Effective at once, the Telegraph companies in this State, whether incorporated 
or otherwise, will be allowed a maximum charge for the transmission of telegraphic 
messages, as follows : 

Ten body words or under Twenty-five cents. 

Over ten body words Two cents for each additional word 



JOINT TELEGRAPHIC RATES. 

Whenever a message is sent over two or more telegraph lines owned, controlled 
and operated by separate and distinct corporations or individuals, the joint rate 
shall not exceed forty cents for such message of ten body words or less, exclusive 
of date, address and signature, between any two points within the limits of this 
State, nor more than three cents for each additional word. 

By order of the Commission. 

Franklin McNeill, Chairman. 

H. C. Brown, Clerk. 



236 



N. C. CORPORATION COMMISSION. 



Circular Ko. 6. 

CLASSIFICATION OF FREIGHT. 

Raleigh, May 11, 1899. 
The Southern Freight Classification of Freight, issue No. 25, with amendments 
to date, is hereby made the classification of freight for North Carolina, except a s 
otherwise classified, as follows : 



Articles. 



Apples, cabbage, Irish and sweet potatoes, when delivered for shipment, must be 
shipped as sixth class, owner's risk, freight prepaid or guaranteed, unless in- 
structions are given to the contrary requiring carrier's risk and non-payment 
of freight ; then third-class rates may be charged 



Bacon in bags same as bacon in wood 

Hay, fodder, and straw, pressed in bales,L. C.L 

I^ive stock (see estimated weight and maximum valuations below) L,. C. L, _- 
Live stock, car-loads 



Class. 



Logs, saw 

Lumber, dressed or rough, L.C. L 

Lumber, car-loads, 24,000 pounds 

Marble or granite tombstones or monuments, boxed or crated, valuation limited to 
40 cents per cubic foot, freight prepaid at 1, ption of shipper or iuiiial carrier, 
any quantity 



Mica, scrap and ground, in bags or barrels, value limited to 6 cents per pound, 
C.L. released 



Same, L, C. L 

Salt, L. C.L 

Stills (worm, crated) 

Stills, copper (worm, crated) 

Tents, Gospel, released 

Wool, washed, in bags not pressed. 



Class if 
Released. 



Rules governing transportation of freight, as per Circular No. 3, applicable to all 
roads in the State. 

By order of the Commission. 

Franklin McNeill, Chairman. 
H. C. Brown, Clerk. 



Circular No. 7. 
EXPRESS TARIFF. 

Raleigh, May 11, 1899. 
The Southern Express Company will be allowed a maximum charge over the Sea- 
board Air Line System of roads, Atlantic Coast Line System, Southern Railway 
and all other roads in the State, as follows : 



COMPLAINTS AND DECISIONS. 



237 



MILEAGE. 


EXPRESS RATES PER 100 POUNDS. 




Over Miles. ^"^j^i^e's"'"' 


Merchandise. 


Class B. 


Class C. 


Class D. 


I 


25 


I0.30 


I0.30 


I0.30 


$0.30 


25 


70 


•50 


.45 


.45 


.40 


70 


149 


•l^ 


.65 


.60 


.50 


149 


159 


.80 


• 75 


.70 


.60 


159 


170 


.90 


•P 


• 70 


.60 


170 


190 


I. no 


.80 


.75 


.60 


190 




1. 10 


1. 00 


.90 


.70 




238 


1.25 


1. 00 


.90 


.70 


238 


266 


1.40 


1.25 


I-I5 


.90 


266 


285 


1.50 


1.25 


I- 15 


.90 


285 


333 


1.75 


1.50 


1.25 


1. 00 


333 


380 


2.00 


1.5c 


1.25 


1. 15 


380 


427 


2.25 


1.75 


1.50 


1.25 


427 




2.50 


2.00 


1-75 


1.40 



Packages not exceeding 5 pounds in weight, or $5 in value, between any two points in North Caro- 
lina on any system of railroads will be carried for 25 cents. 

Express — Joint Tariff. 

On all shipments originating and terminating m this State which shall pass over the whole or por 
lions of two or more roads not under the same control, the maximum rates charged shall not be 
greater than the sum of the lofial rates on such freights, less ten (10) per cent for the distance hauled 
over each road. 

Graduated rates and Classification as appear on pages 86 to 90 inclusive, of the 
Railroad Commission Report for the year 1898. Does not apply to rates on fish. 
Effective at once. 
By order of the Commission. 

Franklin McNeill, Chairman. 
H. C. Brown, Clerk. 



Circular No. 8. 

Raleigh, July 17, 1899. 
Rule No. 8 of the Rules Governing the Transportation of Passengers is repealed 
and the following is substituted : 

Passengers unprovided with tickets, when the opportunity has been afi:orded 
them by the railroad companies to procure the same, may be required by the rail 
roads to pay to the conductor twenty-five cents excess of the fare, upon receiving 
from the conductor a draw-back ticket for the twenty-five cents, which shall be 
cashed upon presentation at any ticket office of the Company within twenty days 
after date. 

By order of the Commission. 

Franklin McNeill, Chairman. 
H. C. Brown, Clerk. • 



238 



N. C. CORPORATION COMMISSION. 



Circular No. 9. 
RATES OF FREIGHT ON COTTON SEED AND COTTON SEED HULLS. 

Raleigh, September 5, 1899. 
On and after the 15th day of September, 1899, the maximum freight rates on cot- 
ton seed and cotton-seed hulls on all railr ads in this State will be as follows : 

PER TON 2,000 POUNDS. 



5 miles 
lo miles 
15 miles 
20 miles . 
25 miles 
30 miles 
35 miles 
40 miles 
45 miles 
50 miles 
55 miles 
60 miles 
65 miles 
70 miles 
75 miles 
80 miles 
85 miles . 
90 miles 
95 miles 



C. L. 



Per Ton. 
$0.60 

.70 

.80 

.80 

.90 

.90 

.95 

•95 

1. 00 

1. 00 

1.05 

1. 10 

1. 10 

I-I5 

r.15 

I- 15 

1.20 

1.20 

1.25 



L. C. L. 
Packed. 



Per Ton. 

fo.75 

.87^ 
1. 00 
1. 00 
1.12]^ 
1.12^ 

I.T83X 
1.18% 

r-25 
1-25 

1.37/2 

i.37>^ 

1.43K 

1.43K 

1.50 

1.50 



100 miles 
no miles 
120 miles , 
130 miles . 
140 miles 
150 miles 
160 miles , 
170 miles 
180 tailes . 
190 miles 
200 miles 
210 miles 
220 miles , 
230 miles 
240 miles 
250 miles 
260 miles 
270 miles 



C. Iv. 


L. C. L. 
Packed. 


Per Ton. 

$1.25 


Per Ton. 

$r.56J< 


1.30 


I.62j^ 


1.30 


1.621^ 


1.35 


i.6S% 


1.35 


1.68K 


1.40 


1.75 


1.40 


1-75 


1.45 


i.BiK 


1.45 


1. 811/ 


1.50 


i.87>^ 


1.50 


1.87/. 


1-55 


1.93% 


1.55 


1.93K 


1.60 


2.00 


1.60 


2.00 


1.65 


2.063< 


1.65 


2.061/ 


1.70 


2.12% 



The roads comprising the Seaboard Air Line System, to- wit : The Seaboard and 
Roanoke Railroad, Raleigh and Gaston Railroad Company, Raleigh and Augusta 
Air Line Railroad, Carolina Central Railroad, Durham and Northern Railroad. Pitts- 
boro Railroad. Palmetto Railroad, Louisburg Railroad. Roanoke and Tar River Rail- 
road, in applying the above tariff, shall conform to Rule 1 of the Rules Governing 
the Transportation of Freight, as follows : 

"All connecting railroads, which are under the management and control, by 
lease, ownership or otherwise, of one and the same company, shall for purposes of 
transportation, in applying this tariff, be considered as constituting but one and the 
same road, and the rates shall be computed as upon parts of one and the same 
road." 

That is, uron a continuous mileage basis. 

The roads comprising the Atlantic Coast Line System, to-wit : The Wilmington 
and Weldon Railroad and its branches, Petersburg Railroad, Wilmington, Colum- 



COMPLAINTS AND DECISIONS. 



239 



bia and Augusta Railroad, Norfolk and Carolina Railroad and the Cheraw and 
Darlington Railroad, shall likewise conform to Rule 1 in applying the above tariff. 

The various roads and branches of roads comprising the Southern Railway Sys- 
tem in North Carolina, shall, in applying this tariff, conform to said Rule 1 of the 
Rules Governing the Transportation of Freight. 

By order of the Commission. 

Franklin McNeill, Chairman. 

H. C. Brown, Clerk. 



Circular No. 10. 
(Amending Circular No. 9.) 

RATES OF FREIGHT ON COTTON SEED AND COTTON-SEED HULLS. 

Raleigh. November 2, 1899. 
On and after the 15th day of September, 1899. the maximum freight rates on 
cotton seed and cotton-seed hulls on all railroads in this State will be as follows : 

PER ton 2,000 POUNDS. 



f 5 miles 
10 miles 
15 miles 
20 miles 
25 miles 
30 miles 
35 miles 
40 miles 
45 miles 
50 miles 
55 miles 
60 miles 
65 miles 
70 miles 
75 miles 
80 miles 
85 miles 
90 miles 
95 miles 



C. L. 


L. C. L. 
Packed. 


Per Ton . 

$0.60 


Per Ton 

$0.75 1 




.87M 


.80 


I.OO 


.80 
.90 
.90 


1 . 00 j 

i.n^l 


.95 


I.l83^ 


•'^ 


I. I8K 


I.OO 


1.25 !j 


I.OO 


I..5 i 


1.05 


i.3i%[ 


1. 10 


i-3i>^ 


I. 10 


1.37)^1 


1. 15 : 


I.37M 


1.15! 


1.43% 


1 

i.i5| 


1.43M 


1.20 


X.50 


1.20 \ 


1.50 Ij 


i 
1.25 1 


i.56^XJ 



00 miles- 
10 miles. 
! 120 miles. 
130 miles. 
140 miles- 
150 miles. 
160 miles. 
170 miles. 
180 miles. 
190 miles. 
200 miles. 
210 miles. 
220 miles. 
230 miiles. 
240 miles- 
250 miles. 
260 miles. 
270 miles- 



C.L. 



Per Ton. 

$1.25 

1.30 
1.30 
1.35 
1-35 
1.40 
1.40 
1-45 
1.45 
1.50 
1.50 
1-55 
1-55 
1.60 
1.60 
1.65 
1.65 
1.70 



L. C. L. 
Packed. 



Per Ton. 

11.56^ 

1.62^ 

I.62>^ 

1.68K 
1.68^ 
1-75 
1-75 

1. 81 IX 
i.8ii< 
i.87>^ 
i.87>^ 
I-93K? 
1-93% 
2.00 
2.00 

2. 06% 
2. o6li 



240 N. C CORPORATION COMMISSION. 

The roads comprising the Seaboard Air Line System, to-wit : The Seaboard and 
lioanoke Railroad Company, TJie Raleigh and Gaston Railroad Company, The Dur- 
ham and Northern Railroad Company, Raleigh and Augusta Air Line Railroad 
Company, Carolina Central Railroad Company, Pittsboro Railroad Company, Pal- 
metto Railroad Company, Louisburg Railroad Company, Roanoke and Tar River 
Railroad Company, in applying the above tariff and all other tariffs shall conform 
to Rule 1 of the Rales Governing the Transportation of Freight, as follows : 

" All connecting railroads which are under the management and control by 
lease, ownership or otherwise, of one and the same company, shall for purposes of 
transportation, in applying this tariff, be considered as constituting but one and 
the same road,- and the rates shall be computed as upon parts of one and the same 
road." 

That is, upon a continu<^us mileage basis. 

The roads comprising the Atlantic Coast Line System, to-wit : The Wilmington 
and Weldon Railroad Company and its branches, Petersburg Railroad Company, 
Wilmington, Columbia and Augusta Railroad Company. Norfolk and Carolina Rail- 
road Company and the Cheraw and Darlington Railroad Company, shall likewise 
conform t(j Rule 1 in applying the above tariff and all other tariffs. 

The various roads and branches of roads comprising the Southern Railway System 
in North Carolina shall in applying this tariff and all other tariffs, conform to said 
Rule 1 of the Rules Governmg the Transportation of Freight. 

By order of the Commission, 

Franklin McNeill, Chairman. 

H. C. Brown, Clerk. 



PART TWO. 

ASSESSMENT OF RAILROAD PROPERTY, TELEGRAPH, 

STEAMBOAT AND CANAL COMPANIES, 

FOR THE YEAR 1899. 



N. C. CORPORATION COMMISSION. 





Ci 


rt 


OS 




on 


'i^ 


r-4 


Trt 


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V 


•-i 


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J* 


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C5 O 






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8 8 



8 8 









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o es o 

sag 



8 8 



8 8 



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8 8 



8 8 8 8 



8 8 8 8 8 



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h- O O 
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8 8 

o o 



8 8 



< 5 



<S O 

a- 3Q 



^ ^ 



5 ^ 

(1) ■— 

s « 

be "S 

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^ ^ 



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ASSKSSMENT OF RAILROAD PROPERTY. 



S 8 



lO o o 

OO lO lO 
CO OO 'Jf 



8 8 



8 8 8 



^ £- g 

Ci C<l ■<Ti 



s § § 

lO CD O 



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8 8 8 



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8 8 



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N. C. CORPORATION COMMISSION. 
STATEMENT A— Continued. Steamboat Property. 



Owner. 



Steam 
boat. 



Thomas McGinn, Wilmington, N. C 

Broaddus & Ives, New Bern, N. C 

New Bern & Seven Springs Transportation Co., Kinston, N. C-, 

D. C. Way Lumber Co., Haslin, N. C 

A. J Gatlin, Vanceboro, N. C 

Swar sboro Lumber Co , Swansboro, N. C 

M. B. Smitb, New Bern, N C 

P. B. Smith, Jacksonville, N. C 

J. J. Lassiter, New Bern, N. C 

Archey E. K. Marine, Marine, N. C 

Moccasin River Steamb>at Company, GriJton, N. C 

Roanoke & Tar River Steamboat Co , Williamston, N C 

Perquimans River Company, Hertford, N C 

W. B. Ellis, New Bern, N. C 

Lake Drummond Canal & Water Co,, Baltimore, Md 

H G. Wood, Edenton, N. C 

D. W. Roper, Edenton, N C 

T. G Dixon, Jr , New Bern, N. C 

Tar River Oil Company, Tarboro, N. C 

W. P. Baugham— Pungo Lumber Co., Washington, N, C 

W. B. Walling, Washington, N. C 

Wilmington & Little River Transportation Co , Wilmington, N. C. 

T. H. Hawkins, Wilmington, N.C 

W. H. Ward, Point Caswell, N. C 

Navassa Guano Company, Wilmington, N. C 

J. W. Harper, Southport, N. C 

Cape Fear Towing and Transportation Co., Southport, N. C 

Diamond Steamboat Co i>pany, Wilmington, N. C 

Black River Packet Co., Wilmington, N 

Kramer Bros & Co., Elizabeth City, N C 

C. H. Sterling, Washington, N. C 

Albemarle & Chesapeake Canal Co., Norfolk, Va,, Canal 

Thomas D. Holly, Coleraine, N. C 

A. R. Fowle & Son, Washington, N C 

C. F. Sumner, Hertford, N. C 

J. G. & F. Wood, Edenton, N. C 

W. R. Capehart, Avoca, N. C 



ASSESSMENT OF RAILROAD PROPERTY. 



STATEMENT A.— Continued. 



Owner. 



Merchants & Farmers Steamboat Co., WilmingtOD, N. C 

E. S. Willey, Elizabeth City, N. C 

Albemarle Steam Navigation Co., Fraal?lin, Va 

J. D. Weymouth, Elizabeth City, N. C 

Branning Manufacturing Co., Edenton. N. C 

J. C Whitty, New Bern, N. C 

Charles Wessell, Wilmington, N. C 

Scranton & N. C. Land and Lumber Co., Makeleyville, N. C 

S. W. Skinner, Wilmington, N. C 

Cape Fear River Transportation Co., Fayetteville, N. C 

Fairfield Canal and Turnpike Co., Fairfield, N. C 

Old Tominion Steamship Co , Wa>>hington, N. C 

Carteret Oil & Fertilizer Co , Beaufort, N. C 

E. M. Short Lumber Co., Washington, N. C 

John B. Wheatlon, Jr., Wheatton, N C 

Mattamuskeet Drainage Co., Fairfield, N. C 

Pamlico Oyster Co., Ocracoke, N. t. 

Gard & Thornton, Elizabeth City, N. C 

Fairfield and Elizabeth City Transportation Co , Fairfield, N. C 

W^alter Taft, Wilmington, N. C 

David Styron, New Bern, N. C 



Steam- 
boat. 



Total 

Assessed 
Value 



12,000.00 

400. 00 

4, 500. 00 

1,800.00 

11,000.00 

800.00 

600. 00 

2,000.00 

1,000. CO 

2,300.00 

6,532.00 

66,800.00 

2,500.00 

500 00 

5O0 00 

500.00 

750. 00 

500.00 

1.000.00 

700.00 

600.00 



31.3,615.78 



Telegraph Companies. 



Name. 



Total 

Assessed 

Value. 



Western Union Telegraph Company 

Atlantic Postal Telegraph Cable Company 

Elizabeth City and Norfolk Telegraph Company __ 

Louisburg Telegraph Company 

Lenoir and Blowing Rock Telegraph Company 

Pittsboro and Moncure Telegraph Company 

Carthage Telegraph Company 

Wilmington and Southport Telegraph Line 

Carolina Po&tal Telegraph Company 

Southern Bell Telephone and Telegraph Company 

Pullman's Palace Car Company 



$1,000,000.00 

50,000.00 

1,C90.00 

160.00 

540.00 

250.00 

200. 00 

500.00 

165.00 

38,296.00 

1,086,201.00 

150,832.21 



1,237,033.?! 



N. C. CORPORATION COMMISSION. 



STATEMENT A.— Continued. Recapitulation. 



Railroadf 



Atlantic Coast Line 955.72 miles 

Southern Railway 1,193.68 miles 

Seaboard Air Line 604.47 miJes 

Miscellaneous 820. 22 miles 

Total 3,574.09 milts 

Pullman Company 

Western Union Telegraph Company 

Atlantic Postal Telegraph Company 

Miscellaneous Telegraph Companies , 

Southern Bell Telephone Company 

Steamboat Companies 

ROLLING STOCK. 

Seaboard and Roanoke Railroad Company, as follows: 

For the year 1894 $25,248.00 

For the year 1895 24,885.00 

For the year 1896 28,707.00 

For the year 1897 24,215.00 

Total 

Raleigh and Gaston Railroad Company, as follows: 

For the year 1894 $60, 937. 00 

For the year 1895 65,312.00 

For the year 1896 85, 812. 00 

For the year 1897 6i, 125.00 

Total 

Raleigh and Augusta Air Line Railway Company, as follows: 

For the year 1894 $42, 187. 00 

For the year 1895 52, 250.00 

For the year 189j 76,437.00 

For the year 1897 67,250.00 

Total 



Total 
Valuation. 



$13,809,613 50 
15,270,853.33 
8,841,619.20 
4,298,887.51 



42,220,953.54 

150,832.21 

1,000,000.00 

50,000.00 

2,905.00 

33,296.00 

313,615.78 



43,771,602.53 



103,055.00 



276,186.00 



238.124.00 



44,388,967.53 



ASSESSMENT OF RAILROAD PROPERTY. 



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52,948.90 

80,797.20 

8,094.57 

55,102.50 

4,084.42 

6,126.62 

3,787.37 

7,017.77 

4,307.20 

1,670.90 

3,193.27 

57,975.00 
41,090.00 


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ASSESSMENT OF RAILROAD PROPERTY. 



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ASSESSMENT OF RAILROAD PROPERTY. 



37 



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ASSESSMENT OF RAILROAD PROPERTY. 



39 



STATEMENT C. — The following Table Shows List of Counties with Railroad Mileage and 

Assessed Value. 



County. 



Name of R'-ad or other Ccmpany 



Alamance . 



Alexander. 



Dis- Valuation 
tance. Per Mile. 



-.05 $20,782.85 



82.87 
17.05 
17.05 
9.16 

8.92 



Beaufort. 



Bladen. 



Bertie 



Brunswick 



77. 25 

117.97 

1,233.60 

3,312.86 

77. 25 

10,8-:!6.99 

4,418.95 

77.25 

117.97 



14,240.70 



North Carolina 

Western Un ou Telegraph Company 

tuJlman's Palace Car Company 

Southern Railway rolling stock 

StatesviUe and Western 

Western Union Telegraph Company 

Carolina Central 27.50 ; 

Cheraw and DarlingtO' 18.90 

Western Union Telegraph Cimpany 158.66 j 

Pullman's Palace Car Company | 27.50 [ 

i 
John B Wheatlou, Jr | ! 

Norfolk and Southern j 11.80 | 

A. R. F'owle & -^on, tsieamers I 

Washington Branch (Wilmingt'u & Weldon) 6.62 i 6,189.91 

C. H. Sterling, Steamers ! 

Western Union Telegraph Company 18.26 77.25 

W P. Baughnm.Pango Lumber Co., Steamers! 

Old Dominion Steamship Company ' 

W. B. Walling, Steamers 

D. C Way Lumber Comp uy, Steamers ' ■ 

E. M Short Lumber Company, Steamers i 

Carolina Central 32.80 10,826.99 

Western Uuion Felegraph Company 94.40 

Atlantic Postal Telegraph Company 95.20 

Cashie and Chowan ! 19.00 



Norfolk and Carolina 

Roanoke and Tar River 

PullmaL's Palace Car Company 

Wellington and Powellsville 

Western Union Telegraph Company 

Albemarle Steam Navigation Company 

^Southern Railway rolling stock 

Thomas D. Holly, Steamers 

W. R Capehart 

Carolina Central 

Wilmii gton, Columbia and Augusta 

Wilmington Railway Bridge Company.. 



13.09 
7.60 
13.09 
20.00 
65.77 



13.09 



12.20 

12.88 

.04 



77. 25 

30.73 

2, 162. 63 

21,680.89 

8,142.56 

117.97 

1,920.00 

77.25 



1,233.60 



10,826.99 
11,688.58 
20,833.33 



Total 

Assessed 
Value. 



§354,347.76 

6,3G3. 12 

2,011.49 

21,032.90 

30,345.87 

689.07 

297.742.31 

61,42.3.49 

12,256.56 

3,244.31 

500.00 

168,040.36 

800. OO 

40,977.25 

1,500.00 

1,410.59 

1,000.00 

26,500.00 

1. 800.00 

500.00 

500.00 

355, 125. 37 

7, 292. 45 

2,925.77 

41,090.00 

283,802.92 

61,883.53 

1,544.30 

38, 4C0. CO 

5,080.77 

1,125.00 

16,147.84 

500. 00 

600.00 

132,089.32 

150,548.96 

833. 33 



40 



N C. CORPORATION COMMISSION. 



STATEMENT C— Continued. 



County. 


Name of Road or other C mpany. 


Dis 
tance. 


Valuation 
Per Mile. 


Total 

Assessed 
Value. 






lu:^. U5 


$77.25 


f 783. 41 




Atlantic Postal Telegraph Company _ _ 


27.80 


30.72 


854.37 




VVilmlngton and Southport Telegraph Line 






500 00 




Cape Fear Towiug and Transportation Co 







21,150.00 




J W. Harper, Si earner 






11,200.00 






I-.'. 88 


117.97 


2,519.53 
581,360.40 


Buncombe- 


Western North Carolina- - 


47.49 


12,211.74 




Asheville and Spartanburg. _ _ . 


10.36 


8,829.79 


91,476.68 




Pullman's Palace Car Company 


45. 03 


117 97 


6,312.45 
16,408.78 
11 903.32 




Western Union Telegraph Company 


212.41 


77 25 






572, 00 


20 81 


Burke 


Carolina and Northwestern 


2 18 


3 713 10 


8,094.57 
363,579.79 
3,503.88 
8,356.19 
356,633.87 
3,700.64 
2,024.47 




Westein Notth Carolina 


29.70 


12,241.74 
117 97 




Pullman's Palace Car Company 


29 70 




Western Union Telegraph Company 


108 17 


77 25 


Cabarrus 




17 Hi 


20,782.85 
3 '217 92 




Yadkin 


M. 




Pullman's Palace Car Company 


17.16 


117.97 




Western Union Telegraph Company_ 


453 30 


77.25 


35,017.65 
21 168 60 




Southern Railway rollino" stcck 


17 16 


I 233 00 




Southern Bell Telephone Company 


5 00 


20 81 


104 05 


<^al dwell 


Carolina and Northwestern 


1-1 84 


3,713.10 

2,328.77 
77 25 


55 102 50 






10 60 


24,685.00 
1 075 33 






13 92 




Lenoir and Blowing Rock Telegraph Co 


20.00 




490.80 


Camden _ _ , 


Norfolk and Southern _ _ _ 


5.00 


14,240.70 


71,203.54 




Wesern Union Telegraph Company 


4.90 


77. 25 


378.53 




Elizabeth City and Norfolk Telegraph Co___- 


10.00 


20.96 


209.60 




Lake Drummond Canal and Water Co 






8,000.00 




Old Doaiinlon Steamship Company 






2,000.00 

123,676.65 

1 , 372. 74 


Carteret 




16 00 


7,729.79 

77.25 






17.77 




Old DomiLion Steamship Company 






2,000.00 

2,500.00 

201,859.00 




Carteret Oil and Fertilizer Co., Steamers _ 






Caswell 




7.10 


28,430.84 

7,851.68 

3,000.00 

1 17. 97 




Atlantic and Danville 


14 60 


114,634.56 

2,250.00 

837.63 




Danville and Western 


.75 






7.10 




Western Union Telegraph Company 


201.57 


77.25 


15,571.38 



ASSESSMENT OF RAILROAD PROPERTY. 



41 



STATEMENT C— Continued. 



County. 



Name of Road or other Company. 



Dis 
tance. 



Valuation 
Per Mile. 



Total 

Assessed 
Value. 



Catawba . 



Chatham 



Cher.ikee 



Chowan 



Cleveland 



Columbus 



Craven. 



(. arolina aud Northwestern 

Western North Carolina 

Pullman's Palace Car CompaDy 

We>5tern Uijion Telegraph Company 

Raleigh hnd Augusta Air Line 

Atlantic and Yadkin 

Pittsboro 

Durham and Charlotte-I 

Egypt 

Pullman's Palace Car Cnupany 

Western Union Telegraph Company 

Pittsboro and Moncure Telegraph Line 

Mercantile Trust aud Deposit Company 

Atlanta, Knoxville and Northern 

Western N» rth Can Ima 

Western Union Telegraph Company 

Norfolk and Southern 

8uflfblk and Carolina 

Western Union Telegraph Company 

Elizabeth City and Norfolk Telegraph Co 

J G & F. Wood, Steamers 

H. G Wo id Sttamer 

Branning Manufacturing Co., Steamers 

D. W. R'per & C > , Steamers 

Albemarle Steam Navigation Co 

Carolina Central 

South Carolina and Georgia 

Atlanta and Charlotte Air Line 

Pullman's Palace Car Company 

Wei-tern Union Telegraph Company 

Carolina Central 

Wilmington, Cbadbourn and Conway 
(Branch W., C and A.). 

Wilmington, Coluaibia and Augusta 

Pullman's Palace Car Company 

Western Union Telegraph Company 

Atlantic Postal Telegraph Conapany 

Atlantic and North Carolina 



21.76 
22.91 
22.94 
127.32 
15.95 
28. 58 
1J.20 
5.27 
8.00 
15.95 
86.85 



15.95 
13.10 
28. 95 
37.62 
4. 20 
8.00 
4.12 
5.00 



21.30 

22.00 
8.77 
8.77 
143.41 
8.90 

24.88 

50.45 
50. 45 
356.72 
17.00 
45.00 



$3,713.10 

12,241.74 

117.97 

77.25 

15,293.39 

8,972.45 

2,128.57 

2,145.07 

2,978.12 

117.97 

77.25 



1,153.63 

3,633.58 

12,241.74 

77.25 

14,240.70 

2,801.56 

77.25 

20.96 



10,826.99 

5,379.77 

22,144.24 

117.97 

77.25 

10,826.99 

3,502.41 

11,688.58 

117.97 

77.25 

30.73 

7,729.79 



$80, 797. 20 

280, 825. 60 

2,706.37 

9,835.53 

243,929.69 

255,984.19 

23,810.00 

11,304.54 

23, 825. 00 

1,881.72 

6,709.21 

250.00 

18,410.52 

47, 600. 00 

293,189.76 

2,906.16 

59,810.97 

22,412 55 

318.27 

104.80 

3,000.00 

600.00 

11,000.00 

800.00 

1,125.00 

230,614.95 

11 8," 355. 10 

194,205.05 

1,034.65 

11,078.49 

96,360.24 

87,140.00 

589,689.04 

5,951.78 

27,556.80 

522.46 

347,840.56 



42 



N. C. CORPORATION COMMISSION. 



STATEMENT C— Continued. 



County. 


Name of Road or other Company. 


Dis 
tance. 


Valuation 
Per Mile. 


Tutal 

Assessed 

Value. 




Wilmington, New Bern and Norfolk (Branch 
W. and W ). 


9.48 


$0,670.39 


$53,755.34 






Western Union Telegraph Corapanv 


112.80 


77 25 


8,713.86 




Old Dominion Steamship Company 






7,000.00 




David 8tvi on, Steamers 


i 


600. 00 




J. C. Whitty, Steam er>' . _ _ 






800.00 




A J. Gatlin, steamers 






800. 00 




M B Smith, Steamers _ _ 






2,000,00 










800. 00 




W. B. Ellis, Steamers 






800. 00 




J. J. Lassiter, Steamers 






] , 800. 00 




T G Dixon Jr 






1,200 00 


Cumberland 


Wilmington and Weld-n (Wilson and Fay- 
ettevi le). 


32,74 


27,291.97 


893,539.40 




Atlantic and Yadkin __. .. _ 


38.28 


9,020.86 


345,318.71 




Aberdeen and Rock Fish 


23.00 


1,896.15 


43,611.54 




Cape Fear River Transportation Company 






2, 300. 00 




Pullman Palace Car Company 


H2.74 


117.97 


3, 862. 53 




Western Uni -n Telegraph Company 


259. 98 


77.25 


20,083.58 




Atlantic P-.>stal Telegraph Company - . 


212.08 


30.73 


6,517,83 




Carolina Postal Telegraph Company 






165,00 


Currituck 


Norfolk and Southern 


14. ao 


14,240.70 


20^642,13 




Western Union Telegraph Company 


14.00 


77.25 


1,081,51 










100,000.00 

515,414.92 

2,925,80 


Davidson 




24.80 


20,782.85 
117.97 




Pullman's Palace Car Company. 


24.80 




Western Union Telegraph Company 


603. 85 


77.25 


46, 647, 71 




Southern Railway rolling stock 


24 80 


1 , 233. 60 


30, 593. 30 


Davie — - — 


North Carolina Midland 


17 68 


2,718.29 
77,25 


48,059.47 
* 927.01 




Western Union Telegraph Company 


12.00 


Dare - 








6,000.00 
12,753,46 


Duplin 


Wilmington and Weldon (Clinton Branch) _. 


3.00 


4,251.15 




Wilmington and Wtldon (Main Line) 


33.96 


27,138.79 


921,633,88 




Pullman's Palace Car Company 


33.96 


117.97 


4,006,46 
S5,824,84 




Western Union Telegraph Company 


334. 30 


77.25 


Durtiam 


Durham and Northern 


10.39 
16.22 


5,691.85 
20,782.85 
5,463.71 


59,138.37 






337,097,98 




Oxfoid and Clarksville — - . - 


11.18 


61,084.32 




Norfolk and Western 


19.50 


5,939.06 


115,811.78 



ASSESSMENT OF RAIL HO AD PROPERTY. 



4? 



STATEMENT C— Continued. 



County. 


Name of Road or other Company. 


Dis 
taoce. 


Valuatl<^ n 
Per Mile. 


Total 

Assessed 

Value. 


Durha/tu 


Puliman't* Palace Car Company 


16.22 


$117.97 


$1,913.57 




We&tein Union Telegraph Compnny 


J5i.35 


77.25 


11,923.61 




Atlantic Postal Telegraph Company 


'27. 00 


30.73 


829.79 




Southern Railway rolling stock 


16.22 


1,233.60 


20,009.02 




Southern Bell Teleph >ne Company 


97.00 


20 81 


2,018.57 


Edgecom be 




10.41 


21,680.89 


225,(98.12 


Wilmington and Weldon (Tarb-ro Braich)— 


14.88 


21,543.46 


309,795.00 




Albemarle and Raleigh (Branch) 


8.89 


h, 720. 42 


50,854.53 




Wilmington and Weldon (Maui Line) 


10. 15 


27,138.79 


275,458.80 




Pullman's Palace Car Company 


20.ri6 


117.97 


2,425.58 




Western Union Te'egraph Compan\ 


492.49 


77. 25 


38,045.10 




Tar Kivtr Oil Company 






5, 050. CO 




Old Dominion Stparashp Comf/any 






2,500.00 




Southern Railway rolling ^tock 


26. 95 


1 , 233. 60 


33,245.54 


Forsyth _. 


Nor hwestern North Catclina 


36 7i 


9, 3S3. 02 

8,972.45 


344 450.86 




Atlantic and Ya-^kln . 


10.77 


96,633.36 




North Carolina Mirtl-ind 


13.73 
14.96 


2, 718. '9 
8,900.26 


37,322.30 




Norfolk and Western . 


133,147.98 




Western Union Telegraph Company 


123.37 


77.25 


9,530.39 




Suulhero Bell Telephoue Company 


145.00 


20.81 


3,017.45 


Franklin 


Louist)urg 


10.00 
12.91 


5,220.00 

;.8,252.92 

117.97 


52 200.00 




Raleigh and Gaston _____ 


364,745.32 




Pullman^■^ Palace Car Company 


12.91 


1,523 07 




Western Union Telegraph Co npiuy 


34. 46 


77.25 


2,662.05 




Atlantic Postal Telegraph Company 


97.20 


30.73 


2,987.24 










160.00 




Mercantile Trust and D -posit Company 


12.91 


1,667.21 


21,523.73 


Gaston 


Carolina and \'orlhw- siei n 


19. 26 
17.50 


3,713.10 

10,826.99 


71,514.43 




Carol ii a Central _ . 


189, 472. 38 




Atlanta, and Charloite Air Lme 


23.00 
23.00 


22,144.21 
117.97 


509,317.66 




Pullu an's Palace Car Company 


2,713.45 




Western Union Te'egrai h Comjan^ 


323.31 


77.25 


24,975.86 


Gates 


Norfolk and Carolina 


14.84 
17.50 


21,680.89 

2,801.56 

117 97 


321 744 49 




Suflfolk and Crfrolina 


49,027.45 
1,750.76 
5,430.71 




Pullman's Palac-^ Car Company 


14 84 




Western Union Telegraph Company 


70.30 


77.25 




Southern Railway roilin.; stock _ 


14.84 


1 , 233. 60 


18,306.64 
1,125.00 




.^Ibema'le Steam Navigation Company 







44 



N. C. CORPORATION COMMISSION. 



STATEMENT C— Continued. 



County. 



Name of Road or other Company. 



Granville. 



Durham and Noithern 22.36 i 

15 i 



Guilford. 



Oxford and Clarksville 

Oxford and Henderson 

Atlantic and Danville 

Western Union Telt-giaph Company 

High Point, Randleman, Ashboro and 
Southern. 



Dis- 
tatjce. 



Valuation 
Per Mile. 



Halifax. 



Northwestern Nortli Carolina 12. 

North Carolii a ' .38. 

Piedmont 1^. 

Atlantic and Yadkin ' 39. 

I 

Pullman's Palace Car Company ' 54. 

Western Union Telegraph Company 1088. 

■routhern Railway rolliug stock: I 33. 

Norfolk and Carolina .. ; 13. 

Raleigh and Giston ! 19. 

Wilmington and Weldon (Scotland Neck I 25. 
Branch) 

Mercantile T. ust and Deposit Company 19. 

Wilmington and Weldon 21. 

Seaboard and Roanoke 

Pullman's Palace Car C smpauy 1 55. 

Western Union Teleg aph Company 411. 



Atlantic Postal Telegraph Company 

Southern Railway rolling slock 

Mercantile Trust and Deposit Company. 



Harnett. 



J Wilmington and Weldon (Wilson and Fay- 
etteviUe Branch). 



Atlantic and Yadkin [ 13. 

Pullman's Palace Car Company j 6. 

i 
Western Union Telegraph Company i 50. 

Atlantic Postal Te egraph Company 147. 



Haywood- 



Henderson 



Hertford 



Cape Fear and Northern 

Western North Carolina 

Western Uni^ n Telegraph Company. 

Asheville and Spartanburg 

Transylvania Railway 

Western Union Telegraph Company. 

Pullman's Palace Car Company 

Norfolk and C-irolina 



20 
38 
04 

■20 

37 

43 

26 

23 1 

83 

37 

24 

99 j 

92 I 

i 

99 i 

93 , 

32"! 

47 1 

t 

06 
00 
24 
32 
42 



$5,691.85 
5,463.71 
5,454.79 
7, 8-31. 68 
77.25 
4,881.44 

9,383.02 
20,782.85 
28,430.84 

8,972.45 
117.97 
77 25 

1,1.'33.60 
21,680.89 
28,252.92 

8,326.76 

1,667.21 

27,138.79 

27,500.65 

117.97 

77.25 

30.73 

l,2:i3.60 

2, 646. 15 

27,291.97 

9,020.86 

117.97 

77. 25 

30.73 

2,570.00 

12,241.74 

77.25 

8,829.79 

2,722.85 

77. 25 

117.97 



Total 

Assessed 
Value. 



$127,269.88 

208, 440. 68 

30,874.14 

17,273.70 

7,136.40 

14,839.58 

114,472.91 

693,524.02 

410,257.09 

352, 258. 65 

6,397.83 

84,112.66 

41, 165. 28 

287,055.06 

564,776.05 

215,829.76 

33,327.61 

595, 153. 84 

8,800.21 

6,544. '2 

31,754.59 

2,335.70 

16,332.88 

846. 87 

175,214.51 

122,683.76 

757.41 

3,877.98 

4,517.74 

4,189.10 

264,054.41 
1, 622. 26 

190,370.38 

31,312.86 

4,902.32 

2,543.56 

315,023.41 



ASSESSMENT oF RAILROAD PROPERTY. 



45 



STATEMENT C. —Continued. 



County. 



Hertford - 



Hyde 



Iredell 



Jackf^on 



Johnston 



Jones 



Lenoir. 



Lincoln___^. 



Name of Road or other Company. 



D'S- 
tance 



Winton 

Pullman's Palace Car Company 

Western Union Telegraph Company 

Albemarle Steam Navigation Company 

Southern Railway rolling stock 

Wellington and Powellsville 

Fairfield C^nal and Turnpike Company 

Pamlico Oy&ter Company 

Old Dominion Steamship Company 

Mattamuskeet Drainage Committee 

Fairfield and Elizabetb City Steamsrhlp Co _. 

Scranton and N. C. Land and Lumber Com- 
pany (Steamboats). 

Statesville and Western 

Western North Carolina 

Atlantic, Tennesi-ee and Ohio 

Pullman's Palace Car Company 

Western Uui< n Telegraph Company 

North Carolina Midland 

Western North Carulina 

Western Union Telegraph Company 

Midland North Carolina 

North Carolina 



15.00 
11.53 

69. 45 



U.53 



Valualion 
Ptr Mile. 



$3,023.33 
117.97 
77.25 



1,233.60 



Total 

A«s« ssed 

Value. 



4.00 I 1,920.00 



Wilmington and Weldon (Wilson and F^iy 
etteville Branch). 



Pullman's Palace Car Company 

Western Union Telegraph Company. 
Atlantic Posta Telegraph C^mpaoy. 

Southern Railway rolling stock 

Atlantic and No'th Carolina 



WilmintitDn New Bern and Norfolk (VV^. and 
W. Branch). 

Western Unir.n Telegraph Company 



Wilmington and Weldon (Scotland Neck 
Branch). 



Atlantic and North Carolina 

Western Union Telegraph Company. 



New Bern and Seven Springs Transportation 
Compan> (Steamboats). 

Carolina and Northwestern 



11.20 
20. 1 1 
21.(10 
20.11 
114.35 
4.90 
•:2.89 
22.35 
12.74 
26. 24 
30. 8S 

57.62 
341.73 

7.00 
26.74 

4. CO 
12.76 



14.26 



3,312.86 ! 



12,241.74 

8,437.55 

117.97 

77. 25 

2, 718. 29 

12,241.74 

77.25 

3,190.69 

20,782.85 

27,291.97 

117.97 

77.25 

30.73 

1,233.60 

7,729.79 

5,670.39 



2J.61 I 77.25 

11.07 j 8,326.76 

19.00 I 7,729.79 

60.37 77.25 



3,713.10 



U5, 350. 00 

1,714.19 

5,365.05 

1,125.00 

17,921.22 

7, 680. 00 

6, 532. 00 

750.00 

12,000.00 

500. 00 

1,000.00 

2,000.00 

37,104.13 

246,181.46 

182,251.20 

2, 372. 50 

8,833.59 

13,319.65 

280,213.51 

1,726.55 

40,649.49 

545,342.24 

842,776.33 

6,797.77 
26,398.81 
215. 13 
32, 986. 49 
30,919.16 
72,354.22 

1,746.63 

92, 177. 29 

146,866.02 

4, 663. 61 

500.00 

52, 948. 90 



46 



N C. CORPORATION COMMISSION. 



STATEMENT C— Continued. 



County 



Name of Road or other Cv>mpany. 



Lincoln. 



Macot). 



Madigon. 



Martin. 



Carolina Central 

Western Unioa Teleg aph Company. 

Western North Carolina 

Western Union Telegraph Company. 
Western North Carolina 

Pullman's Palace Car Company 

Western Union Telegraph Company. 



Wilmington and Wei ion (Scotland NfcK 
Branch). 

vlbemarle and Raleigh (Branch) 



Mc Duwel 



Mecliienburg- 



Mitchell 



Montgomery 



Moore- 



Wilmington and WeMon (Washington 
Branch) i 

Western Union Telegraph Company j 

RoanokeandTar River Steamboat Compan^^ I 

South Carolina and Georgia 

Western North Carolina ! 

! 
Pullman's Palace Cir Company j 

Western Union Telegraph Company 

; Charlotte, C dumbia and Augusta 

Carolina Central i 

I North Car.»lina | 

I 
Atlantic, Tennef-see and Ohio j 

Atlanta and Charlotte Air Line j 

Southern Railway rolling stock i 

Pullman's Palace Car Company 

Western Union Teleg' aph Company ! 

! Southern Bell Telephone Company 

j Kas-t Tenne.'^see and Western North I'arol i ^m. 
I Western Union Telegraph Cotnpauy 

Aberdeen and Ashboro ! 

I 

Moore Countj^ [ 

Carlhage ! 

Moore County Railroad j 

Raleigh and Augusta I 

Aberdeen and Ashboro 

Vtlantic and Yadkin (Southern RallwH\ ) I 

Aberdeen and Rock Fisli I 

Pullman's Palace Car Company 

Western Union Telegraph Company 



Dis. 
tam-e. 



15.60 

31.1(i 

2.57 

2.08 

28.30 

28.30 

117.05 

17.40 

33.86 
.42 

114.02 



Valuation 
Per Mile. 



13.30 

32.24 

32.24 

129.01 

11.48 

23.90 

11.90 

23.40 

11.42 

11.90 

58.70 

774.52 

1 511.00 

3.00 

4.90 

3S.00 

1.00 

29. 50 

11.25 

38.50 

23. 25 

3.39 

3.00 

38.50 

97.47 



$10,826.99 

77.25 

12,241.74 

77. 25 

12,241.74 

117.97 

77. 25 

8,326.76 

5,720.42 
6,189.91 

77.25 



Total 

Assess«-c 

Value. 



5,379.77 
12,241.74 
117.97 
77. 25 
22, 025. 26 
10,826.99 
20,782.85 

8,437.55 
22,144.24 

1,233.60 

117.97 

I 
77.25 I 

20.81 
4,6il.51 

77.25 : 
2,520.52 

1.827.14 I 

I 

1,965.25 I 
1,827.14 
15, 293. 39 
2, 520. 52 
8,972.45 

1.896.15 i 
117.97 

77.25 



$168,901.09 

2,407.J13 

31,461.28 

160. 68 

346,441.34 

3,338.72 

9, 042. 17 

144,885.72 

193,693.42 
2, 599. 76 

8, 808. 10 

13,383.78 

7], 551. 03 

394,673.81 

3,803.54 

9,968.40 

252,850.00 

258, 765. 14 

247,316.03 

197,^38.80 

252, 887. 29 

14,679.85 

6,925.19 

59,832.06 

3,2i6.36 

13,864.53 

378. 53 

95,779.80 

1,827.H 

57, 975. 00 

10,555.36 

588,795.80 

58, 602. 12 

30,416.63 

5, 688. 46 

4,542.07 

7,529.61 



ASSESSME.NT OF RAILkOAD PROPERTY 



47 



STATEMENT C— Continued. 



County. 


Name of Road or other Company. 


Dis- 
tance. 


1 

Valuation 
Per Mile. 


Total 

Assessed 
Value. 


Moore 


Mercantile Trust and Deposit Company 

Carthage Telegraph Line _ 


38.50 


$1,153.63 


$44,415.02 
200. 00 






i 




Durham and CharJoLte 


15.03 


2, 145. 07 


32,240.46 
93,816.99 




.\tlaatic and Yadkin (Atlantic Coast Line)— 


10.40 


! 9,020.86 


Nash 


Wilmington and Weldon (Nashville Branch) 


19. 20 


4,289.94 


1 82,367.00 




Wilmington and Weldon 


11.18 


1 

27, 138. 79 


303,411.76 
1,318.97 
1 467 76 




Pullman's Palace Car Conopany 


11.18 


117.97 




Western Union Telegraph Company 


19.00 


77.25 




Southern Railway rolliog stock 


3.20 


1,233.60 


3,947.53 


Nt-w Hanover 


New Hanover Transit Company 


4.00 


2, 750. 00 


11 000 00 




Carolina Central 


l.Ol 


1 10, 826. 99 


10, 935. 26 
90,896.42 




Wilmington, New Bern and Norfolk (Branch 
W.and W). 


1«.03 


j 5,670.39 




Wilmingtim and Weldon 


9.42 


27,138.79 


255, 647. 48 




Wilmington Sea Ci ast _ _ _ 


11.81 


3,613.88 


42,680.00 

65,220.85 

9,052.35 

49,166.67 




Atlantic and Yadkin _ _ 


7.23 


' 9,020.86 




Southern Bell Telephone Company 


435. 00 


20. 81 




Wilmington Hallway Br dge Company 


2.3d 


20,833.33 




S. W. Skinner, Steamboats . __ 






1,000.00 




Pullmau's Palace Car Company 


9.42 


117.97 


1,111.33 




Merchants and Fanners rStearnbi at Co _ _. 






2,000.00 




Western Union Telegraph Company 


193.70 


77.25 


15,117.92 




Black River Packet Company, steam •• aU 






2,600.00 
122.93 




Atlantic Postal Telegraph Company 


4.00 


30.73 




Diamond Steamboat Company _ 






3,500.00 




Wilmington Dummy Line _____ 


1.25 


5,800.00 


7,250.00 




Thomas McGinn, Steam b(/ats 






650. 00 




Charles Wesstll Steamboats 






600. 00 




T. H. Hawkins, >^teamboats_ 






3C0 CO 




Waller Taft, Steamboats 






700. 00 




Navassa Guano Company Stf^ainb ats 






3,000.00 
3,000.00 




Wilmington and Little River Tran^porta 
tion Company. 












Northampton 


Petersburg __ _ _ _ 


7.18 


27,145.40 


191,901 00 




Northampton and Hertford 


9.00 


2, 580. 55 


23, 225 00 




Roanoke and Tar River 


21.70 


8,142.56 


201,121.47 




Seaboard and Roanoke 


17.97 


27,500.65 


494, 18li.73 




Pullman's Palace Car Company 


25.90 


117.97 


3,055.58 
22,163.17 




Western Union Telegraph Company 


286.90 


77.25 



48 



N. C. COHPOHATION COMMISSION. 



STATEMENT C— Continued. 



County. 


Name of Road or other Company. 


Dis 
lance 


Valuiition 
Per Mile. 


Total 

Assessed 
Value. 


Northampton 


Atlflntifi p. Ktfll Telegraph nompn.ny 


41.60 


130 73 


$1, 278. 49 
47,551.45 


Mercantile Trust and Deposit Company 


17.97 


2,646.15 




Wilmington. New Bernand Norfolk (Branch 
W. and W ). 


36.31 


5,670.S9 


205,892.02 






Swansboro Lumber Company, Steamers 






1,000.00 




Western Union Telegraph Company. 


35.00 


77 25 


2, 703. 77 




P. B. Smith, Steamers 






500.00 




Archey E. K. Marine, Steamers 




_ 


800.00 


Orange 


North Caroiioa 


17,27 


20 782 85 


358,919.99 

24,999.00 

2,037.44 

7,972.25 




State University 


10.14 


2,465.38 
117 97 






17. 27 




Western Union Telegraph Concpany 


103.20 


77.25 




Southern Railway rolling stock _ _ 


17.27 


1,233.60 


21,304.29 


Pamlico _ 


Old Do uiniou Steara'ship Company 






3,800.00 

179,005.70 

916.32 


Pas q uota n k _ 


Norfolk and Southern 


12. .57 


14,240.70 
77.25 




Wes ern Union Telegraph Compaoy 


12.2.5 




Elizaheth City and Norfolk Telegraph C • 


19.00 


20.96 


398.28 




Guard & Thomton, Steamers 






500.00 




Lake Drummond Canal and Water Co _ 







8,000.00 




Kramer Bros. & Co _ _ 






400.00 


Pender 


Wilmington, New Bern and >'o^folk (W. 
and W. Blanch). 


15.74 


5,670.39 


89,252.00 






Wilmington and Weldon _ 


25.19 


27, 138. 79 


683, 626. 32 
197, 556. 93 




Atlantic and Yadkin _ 


21.90 


9,020.86 
117.97 




Pullman's Palace Car Company 


25. 19 


2,971.81 




Western Uuion Telegraph Company 


282. 50 


77. 25 


21,823.27 




W. H. Ward Steamers 






1,500.00 


Perquimans 


Norfolk and Southern. 


16.30 


14,240.70 


232,123.55 




J. D. Weymouth 






1,800.00 






16.00 


77.25 


1 , 236. 01 




E S WUley Steamers 






400 00 




Elizabeth City and Norfolk Telegrapii C.>— _ 


18.00 


20.96 


377.32 




C. F. Sumner, Steamers _ 






-00.00 










2, 100. 00 










2,000.00 

40,828.74 
131,787.87 


Person 




5.20 


7,851.68 
5,939.06 




Norfolk and Western 


22. 19 




Western Union Telegraph Company 


38.10 


77.25 


2,943.24 



ASSESSMENT OF RAILROAD PROPERTY. 



49 



STATEMENT C— Continued. 



County. 



Pitt. 
Pitt. 



Polk 



Randolph 



Richmond. 



Robeson 



Name of Road or other Company. 



Wilmington and Wei don ("Scotland Neck 
Branch). 



Albeocarle and Raleigh (Branch) 

Weldon (Washington 



KockiDgham. 

2— 



Wilmington and 
Branch). 



Western Union Telegraph Company 

Moccasin River Steamboat Company 

Old Dominion Steamslyp Company 

A&heville and Spartanburg 

Western Union Telegraph Company 

Pullman's Palace Car Company 

High Point, Randleman, Ashboro and 
Southern. 

North Carolina 

Atlantic and Yadkin 

Aberdeen and Ashboro 

Pullman's Palace Car Company 

Western Union Telegraph Con.pany 

Southerh Railway Rolling stock 

Carolina Central 

Palmetto 

Raleigh and Augusta 

Atlantic and Yadkin . 

Clitraw and Darlington 

Pullman's Palace Car Company 

Western Union Telegraph Company 

Atlantic Postal Telegraph Company 

Red Springs and B jwmore 

Mercantile Tru^t and Deposit Company 

Carolii a Central 

Atlantic and Yadkin 



Wilmington and Weldon (Wilson and Fay- 
etteville Brancb). 



Red Springs and Bowmore 

Southeastern 

Pullman's Palace Car Company 

Western Union Telegraph Company 

Atlantic Postal Telegraph Company 

Danville, Mocksville and Southwestern. 
Piedmont 



Dis- 
tance. 



31.43 

6.71 
18.35 

126.30 



10.00 
27.30 
10.00 
23.74 

.60 

30.49 

15. 50 

.60 

71,60 

.60 

32.07 

7.00 

28.73 

9.66 

.66 

82.73 

209.70 

121.40 

6.00 

28.73 

30.60 

26.20 

34.70 

15.00 
11.25 
34.70 
304. 80 
108. 24 
7.80 
21.20 



Valuation 
Per Mile. 



$8,326.76 

5,720.42 
6,189.91 

77. 25 



8, 829. 79 

77.25 

117.97 

4,881.44 

20.782.85 

8,972.45 

2,520.52 

117.97 

77.25 

1,233.60 

10,826.99 

2,451.25 

15,293.39 

9,020.86 

4,418.95 

117.97 

77.25 

30.73 

957. 14 

1 , 153. 63 

10,826.99 

9,020.86 

27,291.1-7 

957. 14 

2,213.33 

117.97 

77.25 

30.73 

2,653.84 

28,430.84 



Total 

Assessed 
Value. 



$261, 710. 2a 

38,384.01 
113,584.99 

9,756.74 
1,000.00 
3,000.00 
88,297.95 
2,108.94 
1,179.76 
115,885.42 

12,469.72 

273,570.20 

39, 068. OS 

70. 7 & 

5,531.14 

740, 17 

347, 22 '.67 

17,179.76 

439,379.30 

87,141.55 

2,916.51 

3,861.35 

16,199.43 

3,730.97 

5,742.86. 

33,143.99. 

331,o05.99 

236,346.66 

947,031.68 

14,357.14 
24,900.00 

4,033.76 
23,545.95- 

3,326.5a 

20,700.00 

602,733.91 



60 



N. C. COEPORATION COMMISSION. 



STATEMENT C— Continued. 



County. 



Name of Road or other Company. 



BockiDgham _— _ Norfo'kand Western 

Atlantic and Yadkin 

Pull33au's Palace Cir Company 

Western Union Telegraph Company 

Rowan ! Carolina 

Western North Carolina 

Yadkin 

Pullman's Palace Car Company 

Western LToion Telegraph Company 

Southern Railway rolling stock 

North Carolina Midland 

Rutherford Carolina ("eutral 

South Carolina and Georgia 

j Western Union Telegraph Company 

Sampson j Wilmington and Weldun (Clmton Branch) 

Atlantic and Yadkin '^^. 

\ Western Union Telegraph Company 

Yadkin 

Western Union Telegraph Ctrnpany 

Atlantic and Yadlsin 

Norfolk and Western 

Western Union Telegraph Company 

Atlantic and Yadkin 

Northwestern North Carolina 

WeJ^tern Union Telegraph Company 

Western North Carolina 

Wet-tern Union Telegraph Company 

Georgia, Carolina and Northern 

Carolina Central 

Pullman's Palace Car Company 

Western Union Telegr iph Company 

Durham and Northern 

Oxford and Henderson 

Raleigh and Gaston 

Pullman's Palace Car Company 

Western Union Telegraph Company 

Atlantic Postal Telegraph Company 

Mercantile Trust and Deposit Concpany 

Transylvania Transylvania Railroad 



Dis- 
tance. 



Stanly 
Stokes 

Surry _ 

Swain - 
Union. 

Vance 



20.02 
10.44 
21.20 
620.00 
20.60 
17.52 
16.66 

38. 12 
613.70 

20.60 
17.20 
15.72 
27. 50 
24. 30 
10.43 
38.92 
75.00 
23.19 
22.50 
20.80 
10.67 
40. 10 
17.40 

33. 13 
51.00 
3.>^. 33 
38.00 
14.40 
25. 50 
39.80 

126. 10 

7.50 

7.06 

20.85 

20.85 

79.20 

162.40 

20.85 

9.50 



Valuation 
Per Mile. 



$8,900.26 

8,972.45 

117.97 

77.25 

20,782.85 

12,241.74 

3,217.92 

117.97 

77.25 

1,233.60 

2,718.29 

10,826.99 

r, 379.77 

77. 25 

4,251.15 

9,020.86 

77. 25 

3,217.92 

77. 25 

8,972.45 

8,900.26 

77.25 

8,972.45 

9,383.02 

77.25 

12,241.74 

77.25 

10,462.27 

10,826.99 

117.97 

"77.25 

5,691.85 

5,454.79 

28,252.92 

117.97 

77.25 

30.73 

1,667.21 

2,722.85 



Total 

Lssessec 
Value. 



$178,183.33 

93,672.45 

2,501.09 

47,895.31 

428,126.91 

214,475.35 

53,610.64 

4,497.24 

47, 408. 63 

25,412.18 

46,754.68 

170,200.33 

147,943.87 

1,877.19 

44,339.54 

351,092.05 

5,793.79 

74,623.72 

1,738.14 

186, 627. 10 

94,965.84 

3,097.74 

156,120.75 

310,859.04 

3,938.78 

469.593.29 

2,935.52 

150, 656. 69 

276,088 32 

4,695.44 

9,711.29 

42,688.92 

38,510.86 

589,073.57 

2,459.80 

6,118.24 

4,991.02 

34,761.41 

25,867. li 



ASSESSMENT OP RAILROAD PROPERTY. 



51 



STATEMENT C— Continued. 



County. 


Name of Road or otlier Company. 


Dis 
tance- 


Valuation 
Per Mile. 


Total 

Assessed 

Value. 


Wake 


Durliam and Northern 


1.15 


$5,691,85 


$6,545.63 
628,058.02 




North Carolina 


80.22 


20,782.85 




Raleigh and Augusta 


23 50 


15 293 39 


359,394.84 

529,459.89 

10,000.00 

3,953.90 




Raleigh and Gastoti 


18 74 


28, 252. 92 




Southern Railway, one third interest, Static n 
Southern Bell Telephone Company 






190.00 


20.81 




Pullmau's Paiace Car Company 


72.47 


117 97 


8,549.71 
24,496.13 




Western Union Telegraph Company 


317.10 


77.25 




Atlantic Postal Telegraph Company 


293.80 


30.73 


9,029.33 




Southern Railway rolling stock 


27.52 


1,233.60 


33,948.69 




Cape Fear and Northern 


1«.37 


2,570.00 
2,568.05 
1,667.21 


47,210.90 
46,225.00 
31,243.60 




Raleigh and Cape Fear 


18 00 




Mercantile Trust and Deposit Concpany 


18.74 




Mercantile Tru>t and Deposit Tcmpany 


23.50 


1,153.63 


27,110.47 


Warren 




23.71 


28,252.93 
2 770 00 


669 876 95 




Warren ton 


3 00 


8,310.00 
2 797 21 




Pnllman'.-s Palace. rir,r (\>mpa y 


23.71 


117 97 




Western Union Telegraph Company 


78 00 


77 25 


6,025.54 

5,814.66 

39,529.65 




Atlantic I'ostal Telegraph Compaoy 


189 20 


30 73 




Mercantile Trust and Deposit Company 


23.71 


1,667.21 


Watauga 


Leaoir aud Blowing Rock Telegraph Co 


2.00 
18.00 




50.20 

256,332.75 
22, 13!!. 02 


Washington 


14 240 70 




Albemarle aud Raleigh (Branch Wilmitg 
ton and Weldon) 


3.87 


5,710.42 




Western Union Tel graph Company 


11.20 


77.25 


865 21 


Wayne 




8 76 


3 190 69 


27,950.51 

85,027.69 

217 596 54 




Atlantic and North Caroliia 


11 00 


7 729 79 




North Carolina 


10 17 


20 782 85 




Wilmington and Weldou 


29.76 


27, 138. 79 


807 650.63 




PuUnnan's Palace CarCompau\ _ _ 


29.76 


117.97 


o 510.96 




Western Union Telegraph Company 


35). 75 


77.25 


27,481.87 


Wilkes 


Northwestern North Carolina 


18 11 


9,S83.02 
77.25 


169,926.59 
] 371.20 




Western Union Telegraph Company 


17.75 


Wilson __ 


Wilmington and Weldon (Wilson and Fay- 
etteville Branch). 


11.46 


27,291.97 


919 766 08 








Wilmington and Weldon (main line). 


19 81 


27 138 79 


.^^7 hU) ^Q 




Pullman's Palace Car Company 


31 27 


117 97 


3 689 11 




Western Union Telegraph Company 


285 10 


77 25 


22,024.12 

30,316.58 

i 




Southern Railway rolling stock 


24.60 


1,233.60 







52 



N. C. CORPORATION COMMISSION. 



STATEMENT D.— Showing Incorporated Ttjwns and Valuation. 



Towns. 


Name of Road or otber Company. 


Dis- 
tance. 


Valuation 
Per mile. 


Total 

Assessed 

Value. 




Yadkin .. 


1.00 


$8,217.92 
77.25 


$3,217.92 
61 80 




Western Union Telegraph Company 


.80 


Aboskie 


Norfolk and Carolina 


.46 


21 680 89 


9,973.21 
114.33 




Western Union Telegraph Company- 


1.J8 


77. 25 


^ 


Wellington and Powelisvjlle 


1.00 


1,920.00 


1,920.00 
2,001.39 


Ashboro 


High Point, Randleman, Ashboro and 
Southern. 


.41 


4,881.44 






Aberdeen and Ashboro 


.50 
1.07 


2,520.52 
77.25 


1 260 26 




Western Union Telegraph Company 


82 66 




Aberdeen and Ashboro _ — __ - 


.50 


2,520.52 
15,293.39 
1,827.14 
1,89 '5. 15 


1,260 26 




Raleigh and Augusta— 


1.00 


15,293.40 
822 21 




Moore County 


.45 




Aberdeen and Rock Fish- .. 


.50 


948. 08 




Western Union Telegraph Company 


2.00 


77.25 


154 50 




Mercantile Trust and Deposit Company 


1.00 


1,153.63 


1,153.64 


Asheville 


Western Noith Carolina _ __ 


1.54 
25.12 


12,241.74 

77.25 


18,852.28 
1,940.52 




Western Union Telegraph Company 




Southeas-tern Railway _. 


.25 


2,213.33 


553. 33 




Raleigh and Augusta Air Line 


01 


15,293.39 


152.93 




Mercantile Trust and Deposit Company 


.01 


1,153.03 


11.54 




Western Union Telegraph Company 


1.80 


77.25 


139 05 




Cape Fear and Northern 


.40 


2, 570. 00 


1,0:.8 00 


Ayden 


Wilmington and Weldon (Scotland Neck 
Branch), 

Western Union Telegraph Company 


.3(3 
.30 


8,326.76 
77.25 


2, 997. 63 




23.18 


Battleboro 


Wilmington and Weldon 


.50 


27, 138.79 


13,569-40 
491.31 




Western Union Telegraph Company 


h.3C 


77.25 


Benson 


Wilmington and Weldon (Wilson and P'ay- 
etteville Branch). 


.50 


27,291.97 


13, 645. 99 








Western Union Telegraph Company 


2.50 


77. 23 


193. 13 


Black Mountain 


Western North Oaroliaa __ .. _ 


1.00 


12,241.74 


12,241.74 


Black Creek- 




.51 


27,138,79 


13,840.79 
368. 48 




Western Union Telegraph Company _ _ 


4.77 


77. 25 


Burlington 


Southern Railway 


2.00 


1,2 3 60 


2,467.20 
41,565 72 


North Carolina 


2.00 


20,786.85 




Western Union Telegraph Company 


10.00 


77. 25 


772. 50 






.30 


12,241.74 


3,672.52 

12,241.74 

61 80 


Bryson City 




1.00 


12,241.74 


Western Union Telegraph Company 


.80 


77.25 


Bessemer City 


Atlanta and Charlotte Air-Line 


2.96 


22, 144. 24 


65,646,98 



ASSESSMENT OF RAILROAD PROPERTY. 



53 



STATEMENT D.— Continued. 



Towns. 


Name of Road or other Company. 


Dis 

tance. 


Valuation 
Per Mile. 


Total 

Assessed 
Value. 


Bethel — 




.27 


$5,720.42 
77.25 


SI, 544. 51 
20.86 




Western Union Telegraph Company- 


.27 






.12 


2,722.85 
27, 138. 79 


326. 74 


Burgaw 




1.00 


27, 138. 80 




3.30 


77.25 


254. 93 


Charlotte — ._ 


Atlanta and Charlotte Air Line _ _ 


1.85 


22,144.24 
8,437.55 


40,966.86 
12,234.46 




Atlantic, Tennessee and Ohio 


1.45 




Carolina Central 


].10 


10,826.99 


11,909.69 
8,810.10 




Charlotte Columbia and Augusta 


.40 


22, 025. 26 




Southern Railway 


1.29 


1,233.60 


1,591.34 




North Carolina 


1.29 


20, 782. 85 


26, 809. 89 




Western Union Telegraph Company 


66.44 


77. 25 


5,132.49 


Cameroii 




1.2) 


15,293.39 
77.25 


18,352.08 
143. 69 




Wfst^rn Union Telegraph Company 


1.86 




Mercantile Trust and Deposit Company 


.08 


1,153.63 


92.29 


Catawba 




1.00 


12,241 74 
10,826.99 


12,241,74 
10,826.99 


Cherry ville 


Carolina Central ._ 


1.00 




Western Union Telegraph Company 


].'6 


77.25 


89.61 


Cerro Gordo 


Wilmington Columbia and Augusta 


.78 


11,688.58 


9, 117. 10 


Candor 




.50 


2,520.52 
1,233.60 


1,260.26 


Clayton 




1.06 


1,307,61 




North Carolina _ _ . _ .. 


1.06 


20,782.85 


22,029.83 




Western Union Telegraph Compans'^ 


7.91 


77.25 


611.05 




Wilmington and Weldon (Clinton Branch) __ 


.45 


4,251.15 


1,913.02 






Western Union Telegraph Company 


.33 


77.25 


25.49 


Gary 




1.00 
1.10 


1.233.60 
15, 293. 39 


1,233.60 




Raleigh and Augusta Air Line 


16,822.74 




North Carolina _ 


1.00 
16.08 


20,782.85 

77.25 


20, 782. 86 




Western Union Telegraph Company 


1, 242. 18 




Mercantile Trust and Deposit Company 


1.10 


1,153.63 


1,269.00 


China Grove _ _ 


Southern Railway . 


i.o;) 


1,233.60 


1.233.60 




North Carolina _ „ _ _ 


1.00 


20,782.85 


20,782.86 




Western Union Telegraph Company 


28.84 


77.25 


2,227.89 
' 1 801 05 


Concord 


Southern Railway 


1.46 
1 46 


1,233.60 

20,782.85 
77.25 




North Carolina 


30,342.97 
502. 90 




Western Union Telegraph Company 


6.51 


Chadbourn ^ _ 


Wilmington, Columbia and Augusta 


1.00 


11,688.58 


11,688.58 




Wilmington, Chadbourn and Conway 


1.00 


3,502.41 


3,502.41 



54 



N. C. CORPORATION COMMISSION. 



STATEMENT D.— Continued. 



Towns. 


Name of Road or other Corcpany. 


Dis- 
tance. 


ValufJtion 
Per Mile. 


Total 

Assessed 
Value. 


Chadbourn _ _ _ 


Western Union Telegraph Company _ _._ 


9.03 


$77.25 


ff697. 56 




"Western North Carolina 


.50 


12,241.74 

77.25 


6,120.87 
44.03 




Western Union Telegraph Company 


.57 


Cleveland 


Western North Carolina 


70 


12,241.74 

77.25 


8 569 22 




Western Union Telegraph Company 


5.32 


410.97 


Coneto _ - 


Albemarle and Raleigh 


f>7 


5, 720. 42 


3,260.63 
48.67 




Western Union Telegraph Company 


.63 


77.25 


Claremont _ _ 


Western North Carolina. __ _ 


1.00 


12,241.74 


12,241.74 




Western Union Telegraph Company- 


4.00 


77.25 


309.00 


Conover 


Western North Carolina 


1.04 


12,241.74 


12,731.41 
386.25 




Western Union Telegraph Company 


5.00 


77.25 


Clyde _ _ _ 


Western North Carolina 


.40 


12,241.74 


4,896.70 




Western Union Telegraph Company 


.73 


77.25 


56.39 


Davidson College 


Atlantic, Tennessee and Ohio . 


1.08 


8, 437. 55 


9,112.56 




Western Union Telegraph Company 


1.83 


77.25 


141.37 


Durham 


Oxford and Clarksville 


.30 
1.03 


5,463.71 
5,691.85 


1,639.11 




Durham and Northern 


5,862.61 




Southern Railway 


1.20 


1,233.60 


1,480.32 




Norfolk and Western . _ . _ 


.13 


5,939.06 


772.08 




North Carolina— _ _... __ . . _ _ . 


1.20 


20,782.85 


24,939.43 




Western Union Telegraph Company 


5.38 


77.25 


415.61 




Atlantic Postal Telegraph Cable Company _._ 


1.20 


30.73 


36.88 


Dallas 




1.10 


3,713.10 
77.25 


4,081.42 
58.71 




Western Union Telegraph Company 


.76 


Dillsboro _ 




1.10 


12,241.74 


13,465.92 
51.76 




Western Union Telegraph Company 


.67 


77.25 


Dunn — 


Wilmington and Weldon (Wilson and Fay- 
etleville Branch). 


1.00 


27,291.97 


27,291.98 






Western Union Telegraph Corrpauy 


P. 00 


77. 25 


386.25 


Ellenboro 




1.30 


10,826.99 


14,075.09 






1.51 


77.25 


116.65 


Earle's 


South Carolina and Georiiia. 


.50 
1.00 


5,379.77 
77.25 


2, 689. 89 




Western Union Telegraph Company 


77.25 


Elk Park 


East Tennessee and Western North Carolina _ 
Western Union Telegraph C >mprny 


1.00 
1.20 


4,621.51 

77.25 


4,621.51 




92.70 


Elizabeth City 




.80 


14,240.70 


11,392.57 




1.10 
.69 


14.240.70 
1,233.60 


15,664.78 


Elon College 


Southern Railway 


851. 18 



ASSESSMENT OF RAILROAD PROPERTY. 



55 



STATEMENT D.— Continued. 



Town. 


Name of Road or other Company. 


Dis- 
tance. 


Valuation 
Per Mile. 


Total 

Assessed 

Value. 


Elon College 

Elkin 


North Carolina. __ 


.69 


120,782.85 

9,383.02 

77.25 


$14,340.17 
15, 200. 50 


Northwestern Nr»rth Carolina _— 


1.62 
.93 




Wtstern Union Telegiaph Company — 


7L84 


Everitt _ 


Albemarle and Ra'eigh 


.8;i 
.80 


6,720.42 
77.25 


4,747.94 
61.80 




Western Union Telegraph Company 


Enfield 


Wilmington and Weldon 


1.00 
16.32 


27, 138. 79 
77. 25 


27,138.80 




Western Union Telegraph Company 


1,260.72 


Elm City 


Wilmington and Weldon . . _ 


.50 


27,138.79 


13,569.40 
1 , 330. 25 




Western Union Telegraph Company^. 


17.22 


77. 23 


Forest City 


South Caolina and Georgia 


2.00 


5,379.77 
77.25 


10,759.55 
64.12 


Western Union Telegraph Corcpany 


.83 


Franfelinton 


Louisburg 


.16 


5,220.00 


835.20 




Raleigh and Gaston 


.80 


28, 25?. 92 
30.73 


22,602.34 
184.40 




Ailantic Postal Telegraph Cable Company — 


6.00 




Western Union Telegraph Company 


2.10 


77.25 


162.23 




Mercantile Trust and Deposit Company 


.80 


1,667.21 


1,333.77 


Four Oaks 


Wilmington and Weldon (Fayetteville 
ville Bianch). 


.53 


27,291.97 


14,464.75 




Western Union Telegraph Company 


2.85 


77.25 


220 1& 


FairBlufi" 


Wilmington, Cjilurabia and Augusta-— . _ 


J.OO 


11,688.58 


11,688.58 




Western Union Telegraph Company 


5.0J 


77.25 


389,34 


Fayetteville 


Atlantic and Yadkin _ 


2.85 


9, i 20. 86 


25, 709. 47 




Wilmington and Weldon (Fayetteville 
Branab). 


1.36 


27, '.91. 97 


37,117.0» 




Western Union Telegraph Company _ . 


18.64 


77.25 


1 , 439. 94 




Atlantic Postal Telegraph Cable Company___ 


15.75 


30.73 


484.04 


Fremont 


Wilmington and Weldon 


.85 


27 138 79 


23,067.98 
438.01 




Western Union Telegraph Compiny 


5.67 


77.25 


Faison 


Wilmington and Weldon 


68 


27 138 79 


18,454.40 
517 58 




W^estern Union Telegraph Company 


6.70 


77.25 


Garysburg 


Seaboard and Roanoke 


1 50 


27,500.65 
2, 646. 15 


41 '^50 98 


Mercantile Trust and Deposit Company 


1.50 


3,969.24 


Grover 


Atlanta and Charlotte Air Line 


50 


22 144 24 


11,072.12 
630 36 




Western Union Teiegraph Company 


8 16 


77 25 


Graham 


Southern Railway _ 


47 


1 233 60 


579 79 




North Carolina 


47 


20,782.85 

22, 144. 24 

3,713.10 

77.25 


9,767.94 
31 666 27 


Gastonla 


Atlanta and Charlotte AirLine 


1 43 




Carolina and Northwestern 


1 65 


61 220 65 




Western Union Telegraph Company 


11.44 


883.74 



56 



N. C. CORPORATION COMMISSION. 
STATEMENT D,— Continued. 



Town. 



Name of Road or other Company. 



Oermanton. 

GibsoiiVille. 



Oibson. 



Glei Alpine. 
Goldsboro __. 



Greensboro. 



Greenville 

Grifton 

Goose Nest 

Hendersonville 

Hobgood 

Henderson 



Hope Mills 



Atlantic and Yadkin 

Southern Railway 

North Carjlina 

Cheraw and Darlington 

Raleigh and Augusta 

Western North Caio ina 

Wilmington and Weldon 

Atlantic and Noit'a Carolina 

North Carolina 

Western Union Telegraph Company 

Atlantic and Yadkin 

Southern Railway 

Piedmont 

North Carolina 

Western Union Telegraph Company 

Wilmington and Weldon (Scotland Neck 
Branch). 

Western Uuion Telegraph Company 

Wilmington and Weldon (Scotland Neck 
Brduch) 

Western Union Telegraph Company 

Wilmington and Weldon (Scotland Neck 
Branch). 

Transylvania Railway , 

Asheville and Spartanburg 

Western Union Telegraph Company 

Norfolk and Carolina 

Wilmington and Weldon (Scotland Neck 
Branch). 

Western Union Telegraph Company 

Durham and Northern 

Oxford and Henderson 

Raleigh and Gaston 

Atlantic Postal Telegraph Cable Company- 
Western Union Telegraph Company 

Mercantile Trust and Deposit Company 

Wilmington and. Weldon (Fayetteville 
Branch). 

Atlantic and Yadkin 

Western Union Telegraph Company 



Dis- 
tance. 


Valuation 
Per Mile. 


T. tal 

As^ essed 

Value. 


.50 


$8,972.45 


$4,486.23 


.63 


1,233.60 


777. 16 


.63 


20,782.85 


13,093.20 


.66 


4,418.95 


2,916.51 


.31 


15,293.39 


4,740.95 


1.00 


12,241.74 


12,241.74 


1.90 


27,138.79 


51,563.72 


2.67 


7,729.79 


20,638.54 


.70 


20,782.85 


14,-508.00 


17.15 


77.25 


1,324.84 


2.85 


8,972.45 


25,571.50 


2.11 


1,233.60 


22,602.89 


1.80 


28,430.81 


51,175.52 


2.11 


20,782.85 


43,851.83 


108.52 


77.25 


8,883.17 


.74 


8,326.76 


6,161.81 


1.00 


77.25 


77.25 


.59 


8,326.76 


4,912.79 


1.46 


77.25 


112.79 


1.14 


8,326.76 


9,492.51 


1.50 


2,722.85 


4,084.29 


1.41 


8,829.79 


12,4:0.01 


1.67 


77.25 


129.01 


.71 


21,680.89 


15,393.43 


.23 


8,326.76 


1,915.16 


5.00 


77.25 


386.25 


.65 


5,691.85 


3,699.71 


.36 


6,454.79 


1,963.73 


1.40 


28,252.92 


39,554.10 


10.00 


30.73 


307.33 


6.06 


77.25 


468. 14 


1.40 


1,667.21 


2,334.10 


1.50 


27,291.97 


40,937.97 


1.50 


9,020.86 


13,531.30 


8.12 


77.25 


627.27 



ASSESSMENT OF RAILROAD PROPERTY. 



57 



STATEMENT D.— Continued. 



Town. 


Name of Road or other Company. 


Dis 
tance. 


Valuation 
Per Mile. 

1 


Total 

Assessed 

Value. 


Hickory 


Carolina and Northwestern 


.45 

2.00 

10.85 

2.44 

1.38 

2.44 

?3.50 

.76 

.99 

L61 

.99 

1.05 

.13 

.13 

.85 

1.00 

1.00 

.90 

1.08 

1.08 

3.20 

.71 

.64 

.57 

1.29 

1.00 

2.94 

i.ts 

21.22 

1.29 

4.52 

.91 

.36 

5.83 
1.00 
2.06 
1.00 


$3,713.10 

1 12,241.74 

j 77.25 

1,233.60 

' 4,881.44 

20,782.85 

77.25 

2,4^4.25 

15,293.39 

10,826.99 

1,153.63 

3,502.41 

1,233.60 

^^0,782.85 

77.25 

2,5 0.00 

8,^37.55 

77.25 

15,293.39 

12,241.74 

77.25 

77.25 

5,670.39 

5,720.42 

77.25 

9,020.86 

77.25 

22,144.24 

77.25 

9,383.02 

77..5 

7,729.79 

8,326.76 

77.25 

15,293.S9 

77.25 

1,153.63 


$1,670.90 
24,483.50 




Western North Carolina 






838. 16 


High Point 




3,009.98 
6,736.39 

50,710.18 

2,587.87 




High Point, Randleman, A&hboro and 
Southern. 

North Carolina 




Westera Union Telegrapli Company _ 


Hamlet 


Palmetto 


1 885 23 




Raleigh and Augusta 


15 140.46 




Carolina Centrai 


16 348 76 


Hub 


Mercantile Trust and Deposit Company 

Wilmington, Chadboui'n and Conway 


1,142.10 

3,677.53 
160. 36 


Hillsboro 




North Carolina 


2 701.77 




Western Union Telegraph Company 


65. 66 


Holly Springs—- 


Cipe Fear and Northern 


2,570.00 

8,437.56 
69.52 


Huntersville - _ 


Atlantic, Tennessee and Ohio 




Western Union Telegraph Company 


Hoffacan _ . . 




16,516.87 
13 221 08 


Hot Springs 


Western North Carolina 




Western Union Telegraph Company. _ _ 


247. 20 


Jacksonville 


Western Union Telegraph Company. 


54.84 




Wilmingtcn New Bern and Norfolk 


3,629.05 

3,260.63 

99.65 


Jamesville 


Albemarle and Rileigh _- .__ __ 




Western Union Telegraph Company 


Jonesboro 


Atlantic and Yadkin __ _ . 


9,020.86 
227. 11 




Western Union Telegraph Company . 


Kings MountaiLi_ 


Atlanta and Charlotte Air-Line 


33,880.70 

1,639.24 

12, 104. 10 

349 17 




Western Union Telegraph Company _ 


Kernersville 


Northwestern North Carolina 




Western Union Telegraph Company 


Kinston _ 


Atlantic and Nortli Carolina 


7,034.11 
2,997.63 

450. 37 




Wilmington and Weldon (Scotland Neck 
Branch). 

Western Union Telegraph Company 


Keyser 


Raleigh and Augusta Air-Line 


15,293.40 
159. 13 




Western Union Telegraph Company- 




Mercantile Trust and Deposit Company 


1,153.64 



58 



N. C. CORPORATION COMMISSION 



STATEMENT D.— Continued. 



Town. 


Name of Road or other Company. 


Dis- 
tance 


Valuation 
Per Mile. 


Total 

Assessed 
Value. 


Kelford 


Roanoke and Tar River _ . _ _ 


.57 


$8,142.56 


$4,641.2& 
12,141.30 




Norfolk and Carolina _ _ __ 


.56 


21,680.89 




Western Union Telegraph Company 


3.50 


77.25 


270.38 


Kiltrell 




.30 


28,2.52.92 
77. 25 


8,475.88 
99. 65 




Western Union Telegraph Company 


1.'29 




Meicantile Trust and Deposit Company 


.30 


1,667.21 


500. 16 


Kenly __ _ _ 


Wilmington and Weldon (Wilson and Fay 
etteville Branch). 


.50 


27,291.97 


13,645.9^ 






Western Union Tf^legrfiph riampany 


3.42 


77.25 


264. 19 


Littleton. 


Raleigh and Gaston. _______ _ 


1.-10 


28,252.92 


39, 554. 10 
368.79 




Atlantic Postal Telegraph Cable Company___ 


12.00 


30.73 




Western Union Telegraph Company 


3.51 


77.25 


271.15 




Mercantile Trust and Deposit Company 


1.40 


1,667.21 


2, 334. 10 


Lowell 


Atlanta and Charlotte Air Line 


.90 
15 00 


2?, 144. 24 

77. 25 


21, 258. 48 




Western Union Telegraph Company 


1,158.75 


LaGrange 


Atlantic and North Carolina 


1 24 


7,729.79 
77.25 


9,584.94 






1.46 


112.78 


Luru barton 


Carolina Central 


.30 


10,826.99 


3, 248. 10 




Western Union Telegraph Company 


.99 


77.25 


76.48 


Laurinburg . 


Carolina Central 


1.20 


10, 826. 99 


12,992.39 




Western Union Telegraph Company 


6.00 


77.25 


463. 50 


Lilesville '. - 


Carolina Central 


1.00 


10,826.99 


10,826.99 






5.00 


77.25 


386.25 


Liberty 


Atlantic and Yadk in 


1.43 


8,972.45 


12,830.61 




Western Union Telegraph Company 


2.34 


77.25 


180.77 


Lincolnton 


Carolina Central 


.90 


10, 826. 99 


9,744.29 




Carolina and Northwestern _ _ _ 


1 02 


3,713. 10 


3,787.37 




Western Union Telegraph Company 


1.83 


77.25 


141.37 


Lenoir 




.86 


3,713.10 


3,193.27 






.57 


77.25 


44.03 


Lexington __ — 


Southern Railway _ _ _ 


.50 


1,233.60 


616.^0 




North Carolina. _. _. . _ _ 


.50 


• 20,786.85 


10,391.43 




Western Union Telegraph Company 


15.76 


77.25 


1,217.46 


Louisburg 


Loulf'buig 


.48 


5,220.00 


2, 505. 60 


Wilmington and Weldon ( Fayelteville 
Branch). 


.53 


27,291.97 


14,404.75 








Western Union Telegraph Company 


4.38 


77.25 


338.36 


Morehead City- 




3.25 


7,729.79 


25,121.82 


Western Union Telegraph Company 


2.13 


77.25 


164.54 



ASSESSMENT OF RAILROAD PROPERTY. 



59 



STATEMENT D.— Continued, 



Town, 


Name of Road or other Company. 


Dis 
tauce. 


Valuation 
Per Mile. 


Total 

Assessed 

Value. 


Morrisville _ _ 


Southern R^.ilway ______ 


.60 


$1,233.60 


S740. 17 




North Carolina 


.60 


20, 782. 85 


12,469.72 




Western Union Telegraph Company 


2.80 


77.25 


216.30 


Maxton 


Atlantic and Yadkin 


1.02 


9, 020. 86 


9,201.28 




Carolina Central _ _ _ 


.50 


10,826.99 


5,413.50 




Western Union Telegraph Company 


6.34 


77. 25 


489.76 


Margarettsville 


Seaboard and Roanoke 


1.00 
1.00 


27,500.65 
2,646.15 


27,500.65 




Mercantile Trust and Deposit Company 


2, 646. 16 


Mebane 


Southern Railway 


1.00 


1,233.60 


1,233.60 




North Carolina 


1.00 
2.92 


20,782.85 
77.25 


20,782.86 




Western Union Telegraph Company 


225.57 


Madison _ 


Atlantic and Yad!xin _ _ 


.5t) 


8,972.45 


5,024.58 




Norfolk and Western 


1.69 


8,900.26 
77.25 


15,041.45 




Western Union Telegraph Company 


3.14 


242.56 


Mount Airy. 


Atlantic and Yadkin _ _ . _ 


2.01 


8, 972. 45 


18,034.64 




Western Union Telegraph Comoany 


,7 


77. 25 


13. 13 


Mooresville 


Atlantic, Tennessee and Ohio 


2.00 
1.70 


8,137.55 
77.25 


16,875.11 




Western Union Telegraph Compiay 


131.33 


Marsh 7ille 


Carolina Central. . . _. . _ 


1.00 


10,826.99 


10,826.99 


Monroe _ _ _ 


Carolina Central 


.70 


10,826.99 


7,578.90 




Georgia, Carolina and Northern 


.78 


10,462.27 


8, 160 57 




Western Union Telegraph Company 


5.80 


77.25 


448.05 


Milton ._ 




.26 


77.25 


20. 09 


Matthews ._ 


Carolina Central 


.90 


10,826.99 
77.25 


9,744.29 




Western Union Telegraph Company 


6.00 


4fJ3.50 


Mount Holly _ 


Carolina Central _ __ 


1.30 


10,826.99 


14,075.09 




Western Union Telegraph Company. 


1.00 


77.25 


77.25 


McFarland 


Cheraw and Darlington 


100 


4,418.93 
77.25 


4,418.96 
148.32 




Western Union Telegraph Company.. 


1.92 


Marion 


South Carolina and Georgia 


65 


5,379.77 
12,241.74 


3, 496. 85 
15, 669. 43 




Western North Carolina 


1.28 




Western Union Telegraph Company 


4.40 


77. 23 


339. 90 


Mocksville 


North Carolina Midland 


.90 


2,718.29 


2,416.47 




Western Union Telegraph Company 


.50 


77.25 


38.62 


Morven_ _ 


Cheraw and Darlington 


1.00 


4 418 95 


4,418.96 

5,379.78 
88.06 


Mooresboro 


South Carolina and Georgia 


1.00 


5,379 77 


Murfreesboro 


Western Union Telegraph Company 


1.14 


77.25 



60 



N. C. CORPORATION COMMISSION. 



STATEMENT D.— Continued. 



Town. 


Name of Road or oiher Oomyany. 


Dis- 
tance. 


Vnl nation 
Per Mile. 


Total 

Assessed 
Value. 


Murphy 


Western North Carolina 


52 


$12,241.74 

3,633.58 

77.25 


$6,365.71 

2,180.15 

64.12 




Atlanta, Knoxvilleand Northern 


.60 




Western Union Telegraph Company 


.83 


Maiden 




1.16 
1.00 


3,713.10 
77.25 


4,307.20 

77. 25 




Western Union Telegraph Company 


Manly 


Raleigh and Augusta Air Line 


1 00 


15,293.39 
77.25 


15,293.40 
154.50 




Western Union Telegraph Company 


2.00 




Mercantile Trust and Deposit Company 


LOO 


1,153.63 


1,153.64 


Macon 


Raleigh and Gaston _ . _ _ 


1.00 


28,252.92 


28,252.93 
201.62 




Western Union Telegraph Company 


2.61 


77.25 




Mercantile Trust and Deposit Company 


1.00 


1,667.21 


1,667.21 


Morganton 


Western North Carolina 


1.59 


12,241.74 


19,464.38 
441 87 




Western Union Telpgraph Company 


5.72 


77.25 


Marshall 




1.03 


12,241.74 

77.25 


12,609.00 
330 63 






4.28 


Moncure 




1.00 


77.25 


77. 25 


Magnolia 


Wilmington and Weldon-_ _ ._ ___ _ 


LOO 


27,138.79 


27,138.79 




Western Union Telegraph Comjany 


10.00 


77. 25 


772. 50 


Mount Olive 


Wilmington and Weldon 


.67 


27,138.79 


18,182.98 




Western Union Telegraph Company 


5.30 


77. 25 


409. 43 


New Bern 


Atlantic and North Carolina 


3.79 


7,729.79 


29,295.90 






1.20 


5, 670. 39 


6,804.47 
681.44 






8.86 


77.25 


Newport ■_ 


Atlantic and North Carolina _. _ _ 


L06 


7,729.79 


8,193.58 




Western Union Telegraph Company_ 


1.40 


77.25 


100. 81 


Nashville 


Wilmington and Weldon (Nashville Branch) 


.67 


4,289.94 


2,874.26 




Western Union Telegraph Company 


.67 


77.25 


51 76 


Newt.n 


Carolina and Northwestern _ _ _ _ _ 


1.89 


3,713.10 


7,017.77 






.41 


12,241.74 


5,019.11 
441.87 






5.72 


77.25 


New London 


Yadkin . ._ _ _ . _ 


1.65 


3,217.92 


5,309.59 
51,76 




Western Union Telegraph Company 


.67 


77.25 


Norwood 


Yadkin 


.35 


3,217.92 
77.25 


1,126.27 




Western Union Telegraph Company 


.10 


7.73 


N. Wilkesboro — 




1.49 


9,383.02 


13,980.71 
77.25 




Western Union Telegraph Company 


LOO 


77.25 


Oxford 


Oxford and Clarksville _ — 


.70 
3.96 


5,463.71 

77.25 


3,824.70 




Western Union Telegraph Company 


305.91 



ASSESSMENT OF RAILROAD PROPERTY. 



61 



STATEMENT D.— Continued. 



Town. 


Name of Road or other Company. 


Dis- 
tance. 


Valuation 
Per Mile. 


Total 

Assessed 

Value. 


Old Fort — - 


Western North Carolina 


.75 


$12,241.74 


$9,181.31 




Western Union Telegraph Company _ 


2.80 


77.25 


216.30 




Albema'le and Panlego (Division Norfolk 
and Southern). 


.50 


14,240.70 


7,120.35 






Parmele 


Albeixiarle and Raleigh _ 


1.00 


5,720.42 


5,720.42 




Wilmington and Weldon (Washington 
Branch). 


.34 


6,189.91 


2, 104. 57 




Wilmington and Weldon (Scotland Neck 
Branch). 


1.00 


8,326.76 


8,326.77 




Western Union Telegraph Company 


2.15 


77.25 


166.09 


Polkton- 




1.00 


10,826.99 


10,826.99 
386. 25 






5.00 


77. 25 


Pembroke 


Wilmington and Weldon _ — _ 


1 00 


27,291.97 


27,291.98 


Pine Level 


North Carolina _ — _ _ . _ 


1.00 
3.60 


20,782.85 
77.25 


20,782.86 




Western Union Telegraph Company 


278. 10 


Plymouth 


Albemarle and Raleigh 


.13 


5,720.42 


743 65 




Western Union Telegraph Company 


.81 


77.25 


62,57 


Pilot Mountain 


At'antic and Yadkin 


1 48 


8,972.45 
77. 25 


13,279.24 
69.52 




Western Union Telegraph Company 


.90 


Plneville _ 


Chailotte, Columbia fc.nd Augusta 


1.00 


22,025.26 


22,025.26 




Western Uoirn Telegraph Company 


19. 33 


77.25 


1,493 24 


Pittsboro _ _ _ 


Pittsboro _ . _ 


.33 


2, 128. 57 


702 43 


Polloksville _ _ . 


Wilmington, New Bern and N'orfolk 


.49 


5,670.39 
77.25 


2,778.49 
38 63 




Western Union Telegraph Com pan v _ 


.50 


Princeton 


North Carolina 


40 


20,782.85 
5 720 42 


8, 313. 14 

2,574.18 

17, 640. 23 

577.06 


Piinceville 


Albemarle and Raleigh 


45 


Pikeville 


Wilmin^^ton and Weldon 


65 


27 138 79 




Western Uni. n Telegraph Cvjmpany 


7.47 


77.25 


Rowland 


Wilmington and Weldon (Fayetteville 
Branch). 

Western Union Telegranh Company 


1 00 


27 '^91 97 


27,291.98 

253.38 

191.43 

9,020.86 

231.75 




3.28 


77 25 


Red Springs 


Bowmoie at d Red Springs _ _ 


.20 


957 14 


Ailant'c and Yadkin 


1 00 


9,020.86 
77.25 




Western Union Telegraph Company 


3.00 


Roseboro 


Atlantic and Yadkin 


50 


9,020.86 

77. 25 


4,510.43 
57.17 




Western Union Telegraph Company 


.74 


Rock inghana 


Carolina Central 


50 


10,826.99 

77 '^5 


5,413.50 

243.34 

6,280.69 

54.07 




Weste n Union Telegraph Company 


3 15 


Ramseur 


Allanticj and Yadkin 


70 


8,972.45 
77.25 




Western Union Telegraph Company 


.70 



62 



N. C. CORPORATION COMMISSION. 



STATEMENT D.— Continued. 



Town. 



Robersonville. 



Randleman 



Raleigh. 



Rennert . 
Ruffin __. 
Roxboro . 



Ri-idsville 



Rocky Mount 



Saluda . 



San ford. 



Name of Road or other Company. 



Dis- 
tance. 



Statesville— 

Stanly Creek 
Shelby 



Albemarle and Raleigh ___ 

Western Union Telegraph Company 

High Point, Randlenan, Ashboro and 
Southern. 

Western Union Telegraph Company 

Southern Railway 

Southern Railway Depot 

Raleigh and Augusta Air-Line 

Raleigh and Gaston 

Nprth Carolina 

Atlantic Postal Telegraph Cable Company— 

Western Union Telegraph Company 

Mercantile Trust and Dept sit Company 

Mercantile Trust and Deposit Company 

Wilmington and Weldon (F ) 

Piedmont 

Norfolk and Western 

Western Union Telegraph Company 

Piedmont 

Western Union Telegraph Corupany 

Wilmington and Weldon 

Wilmington and Weldon (Nashville Branch) 

Western Union Telegraph Company 

Ashevijle and Spartanburg 

Western Union Telegraph Company 

Atlantic and Yadkin (W. and W.) 

Atlantic and Yadkin (Southern Railway) 1 

Raleigh and Augusta Air-Line { 

Western Union Telegraph Company 

Mercantile Tru^t and Deposit Comp8ny_— 

Atlantic, Tennessee and Ohio 

Western North Carolina 

Siatesville and Western 

Western Union Telegraph Company 

Carolina Central 

Western Union Telegraph Company 

Carolina Central 

South Carolina and Georgia 

Western Union Telegraph Company 



.60 

.77 

.40 
1.00 



Valuation 
Per Mile. 



.20 

.90 

1.00 

23.62 

32. 32 

.20 

.90 

2.00 

1.00 

.98 

1.00 

1.14 

38.34 

1.13 

.23 

32.62 

1.00 

2.00 

.60 

.56 

1.00 

9.32 

1.00 

.26 

.74 

.67 

8.62 

.50 

.83 

LIO 

1.21 

5.27 



$5,720.42 

77.25 

4,881.44 

77.25 
1,233.60 



Total 

Assessed 
Value. 



15,293.39 

28,252.92 

20,782.85 

30.73 

77.25 

1,153.63 

1,667.21 

27,291.97 

28,430.84 

5,939.06 

77.25 

28,480.84 

77. 25 

27, 138.79 

4, '.89. 94 

77.25 

8,829.79 

77.25 

9,020.86 

8,972.45 

15,293.89 

77.25 

1,153.63 

8, 437. 55 

12,241.74 

3,312.86 

77. 25 

10,826.99 

77.25 

10,826.99 

5,379.77 

77.25 



ASSESSMENT OF RAILROAD PROPERTY 



63 



STATEMENT D,— Continued. 



Town. 



Salem. 



Selma. 



Salisbury 



Name of Road or other impany. 



Southern Pines -_ 



Si tr City 

Stoneville 

Sylva 

Springhope 

Scotland Neck ___ 

Star 

Smithfleld 

Seaboard 

Tryon City 

Trinity 

Tarboro 



Northwestern North Carolina 

Western Union Telegraph Company 

Southern Railway 

Wilmington and Weldon (Fayettevjjle 
Bianch). 

North Carolina 

Western Union Telegraph Company 

Southern Railway 

Yadkin 

Western North Carolina 

North Carolina 

Western Union Telegraph Company 

Raleigh and Augusta Air Line 

Western Union Telegraph Company 

Mercantile Trust and Deposit Company 

A.tlantic and Yadkin 

Wef>tern Union Telegraph Company 

Norfolk and Western 

Western Union Tek graph Compai y 

Western North Carolina 

Western Union Telegraph Company 

Wilmington and Weldon (Nashville Branch) 

Western Union Telegraph Company 

Wilmington and Weldon (Scotland Neck 
Blanch). 

Western Union Telegraph Company 

Aberdeen and Ashboro 

Western Union Telegraph C )mpany 

Seaboard and Roanoke 

Western Union Telegraph Company 

Mercantile Trust and Deposit Company 

AsheviUe and Spartanburg 

Western Union Telegraph Company 

High Point, Randleman,Ashboio and South 
ern. 

Western Union Telegraph Company 

Albemarle and Raleigh 

Norfolk and Carolina 

Wilmington and Weldon (Tarboro Branch)— 
Western Union Telegraph Company 



Dis 
tance. 



Valuation 
Per Mile. 



.37 
1.71 
1.00 

.92 

1.00 
11.42 
1.30 ' 

.52 
l.?7 
1.30 
46.57 
1.46 
2.34 
1.46 ! 
1.06 
2.00 
1.03 
1.74^ 
1.00 I 

.67 ! 

.67 ; 

.60 
1.00 

1.00 
1.00 

.yo 
1.00 : 

3.00 
1.00 
1.00 
1.80 
.76 



$9,383.02 

77.25 

1,283.60 

27,291.97 

20,782.85 

77.25 

1,233.60 

3,217.92 

12,241.74 

20,782.85 

77. 25 

15,293.39 

77. 25 

1,153.63 

8,972.45 

77.25 

8,900.26 

77. 25 

12,241.74 

77. 25 

4,289.94 

77.25 

8,326.76 

77. 25 
2,520.52 

77. 25 
27,500.65 

77.25 
2,616.15 
8,829.79 

77.25 
4,881.14 



Total 

Assessed 
Value. 



.80 , 77.25 

1.20 i 5,720.42 

.22 21,680.89 

.25 21,543.46 

14.37 ! 77.25 



$3,471.72 
132. 10 

1,233.60 
25, 108. 62 

20,782.86 

882.20 

1,603.68 

1,673.32 

15,547.01 

27,017.72 

3,597.53 

22,328.36 

180.76 

1,684.31 

13,997.03 

154.50 

9, i()7.27 

134.41 

12,241.74 

51.76 

2,874.26 

46.35 

8,826.77 

77.25 

2,520.52 

69.53 

27, 500. 65 

231.75 

2,646.16 

8,829.79 

139.05 

3, 709. 90 

61.80 
6,864.50 
4,769.80 
5,385.87 
1,110.08 



64 



N. C. CORPORATION COMMISSION. 



STATEMENT D.— Continued. 



Town. 



Thomasville 



Taylors ville 



Troy 

Victoria . 



Vaughan 



Weldon. 



Wilmington- 



Name of Road or other Company. 



Wallace 

Warsaw 

Wilson 

Whitaker 

Windfall 

Williara&ton — 
Windsor 1 



Southern Railway 

North Carolina 

Western Union Telegraph Company 

Statesville and Western 

Western Union Telegraph Company 

Aberdeen and Ashboro 

Ashevilie and Spartanburg 

Western North Carolina 

Raleigh and Gaf^ton 

Western Union Telegraph Company 

Mercantile Trust and Deposit Company 

Seab3aid aud Roanoke 

Wilmington and Weldon 

Raleigh aud Gaston 

Western Union Telegraph Company 

Mercantile T* ust and Deposit Company 

Mercantile Trust aud Deposit Company 

Atlantic and Yadkin 

Carolina Central 

Wilmington, New Bern and Norfolk 

Wilmington and Weldon 

Wilmington Dummy Lme 

Western Union Telegraph Company 

Wilmington Sea Coast 

Wilmington and Weldon : 

Western Union Telegraph Company 

Wilmington and Weldon 

Wilmington and Weldon (Clinton Branch) 

Western Union Telegraph Company 

Wilmington and Weldon 

Western Union Telegraph Company 

Wilmington and Weldon 

Western Union Telegraph Company 

Norfolk and Southern 

Western Union Telegraph Company 

Albemaile and Raleigh 

Western Union Telegraph Company 

Wellington and Powellaville 



Dis 
tance, 



1.00 

1.00 

28.97 

.42 

.37 

.25 

.14 

1.50 

.85 

2.61 

.85 

.32 

1.20 

.40 

21.38 

.30 

.41 

.01 

1.00 

1.85 

1.57 

1.25 

48.08 

1.00 

.50 

6.70 

1.00 

.46 

14.20 

.81 

16.98 

1.00 

15.86 

.50 

.50 

.30 

.92 

1.50 



Valuation 
Per Mile. 



$1,233.60 

20,782.85 

77.25 

3,312.86 

77.25 

2,520.52 

8,829.79 

12,241.74 

28, 252. 92 

77.25 

1,667.21 

27,500.65 

27, 138.79 

28,252.92 

77. 25 

2,646.15 

1,667.21 

9,0i0.86 

10,826.99 

5,670.39 

27,138.79 

5,800.00 

77.25 

3,613.88 

27,138.79 

77.25 

27,138.79 

4,251.15 

77.25 

27,138.79 

77. 25 

27,138.79 

77. 25 

14,210.70 

77. 25 

5,720.42 

77.25 

1,920.00 



Total 

Assessed 

Value. 



$1,233.60- 

20,782.86 

2,237.9a 

1,391.41 

28.58 

630. 13 

1, 236. 17 

18,362.62 

24,014.99 

201.62 

1,317.13 

8,800.21 

32,566.56 

11,301.17 

1,651.60 

793. 85 

683.56 

90. 21 

10,826.99 

10, 49?. 23 

42.607.91 

7,2'0.00> 

3,714. IS 

3,613.89 

13,569.40 

517.58 

27,138.79 

1,955.53 

1,090.95 

21,982.33 

1,311.70 

27,138.80 

1, 225. 1^ 

7,120.35 

38. 63- 

1,716.12 

71.07 

2,880.0a 



ASSESSMENT OF RAILROAD PROPERTY. 



65 



STATEMENT D.— Continued. 



Town. 



Wake Forest 

Winston 

Warren ton 

Waco 

Waxhaw 

Whiteville 

Wrightsville 

Beach 

Waynesville 

Wastiington 

Youngsville 



Name of Road or other Company, 



Raleigh and Gastoa 

Western Union Telegraph Company 

Mercantile Trust and Deposit Company 

North Carolina Midland 

Northwestern North Carolina 

Norfolk and Western 

Western Union Telegraph Company 

Western Union Telegrapn Company 

Warrenton 

Atlantic Postal Telegraph Cable Company- 
Carolina Central 

Georgia, Caiolioa and Northern 

Western Uni -n Telegraph Company 

Wilmington, Columbia and Augusta 

Western Union Telegraph Company 

Wilmington Sea Coast 

Western North Carolina 

Western Union Telegraph Com.pan> 

Wilmington and Weldon (Washington 
Braneb) 

Western Union Telegraph Company 

Raleigh and Gaston 

Mercantile Trust and Deposit Company 



Dis 
tance. 



1.00 
3.39 
1.00 

.94 
1.29 
1.17 
8.93 
1.74 

.25 
6.40 
1.00 

.31 

.87 
1.06 
6.60 



Valuation 
Per Mile. 



S28, 252. 92 

77. 25 

1,667.21 

2,718.29 

9,383.02 

8,900.26 

77.25 

77.25 

2,770.00 

30.73 

10,826.99 

10, 462. 27 

77. 25 

11,^88.58 

77.25 



1.50 3,613.88 

1.34 [ 12,241.74 

.93 j 77.25 

.97 6,189.91 

2.00 I 77.25 

.50 \ 28,252.92 

.50 I 1,667.21 



Tolal 

As.sessed 

Value. 



828,252.93 

261.88 

1,667.21 

2,555.20 

12,104.10 

10,413.31 

689.84 

134.41 

692.50 

196.69 

10,826.99 

3,213.30 

67.21 

12,389.90 

509.85 

5, 420. 83 

16,403.94 

71.84 

6,004.22 

154.50 

14,126.46 

833. 60 



Q6 



N. C. CORPORATION COMMISSION. 



Assessment of Telegraph Companies 



STATEMENT E.— Showing Counties, Towns and Valuation. 



WESTERN UNION TELEGRA.PH COMPANY, 1899 



Valuation of proptrly. 

Total mileage 

Valuation per mile 



-$1,000,000.00 

12,944.90 

77.2505 



Alamance — 
Alexander _. 

Anson 

Beaufort 

Bertie 

Bladen 

Brunswick _. 
Buncombe _. 

Burke 

Cabarrus 

Caldwell — . 

Camden 

Carteret 

Caswell 

Catawba 

Chatham 

Cherokee 

Chowan 

Cleveland __ . 
Columbus __- 

Craven 

Cumberland- 
Currituck _— 
Davidson — 

Davie 

Duplin 

Durham 

Edgecombe _ 



County. 



Miits. 



Valahiion 



82 

8 

158 

18 

65 

94 

102 

212 

108, 

453 

l;i 

4 

17, 
201, 
127, 

86, 

87, 
4, 
irS. 
350, 
112. 
259. 

14. 
003 

12. 
3.34, 
154. 
492, 



$6,363.12 
689.07 

12,256.^6 
1, 10.59 
5,080.77 
7,292.45 
7,883.41 

16,^08.78 
8, 356. 19 

35,017.65 

1,075.33 

378.53 

1,372.74 

15,571.38 
9, 8 55. 53 
6,709.21 
2, 900. 16 
318.27 

11,078.49 

27, 556. 80 
8,713.86 

10,083.58 
1,081.51 

46,6-17.71 
927.01 

25,824.81 

11,9.3.61 

38,015.10 



ASSESSMENT OF TELEGRAPH COMPANIES. 



67 



Western Union Telegraph Company — Continued. 



Forsyth.- 
Franklin 



Gaston. 



Gates 

Granville 
Guilford _. 
Halifax _ 



Harnett 

Haywood- 
Henderson 
Hertford __ - 



Iredell __. 
Jackson _ 
Johnston 
Jones 



Lenoir _. 
Lincoln 
Macon _. 



Madison 
Martin__ 



McDowell 

Mecklenburg- 
Mitchell 

Moore 



Nash 

New Hanover. 
Ncrthamptoo _ 

Onflow 

Orange 

Pasquotank __ 

Pender 

Perquimans __ 

Person 

Pitt 

Polk 

Randolph 

Richmond 

Robeson 

Rockingham _. 



County. 



Miles. 


Va'uatun. 


123.37 


$^,530.39 


34.46 


2,662.05 


323.31 


24,975.86 


70.30 


5,430.71 


92.38 


7, 136. 40 


1,088.83 


84,112.66 


4U.06 


31,754.59 


50.20 


8,877.98 


21.00 


1,622.26 


'3.46 


4,902.32 


69.45 


5,365.05 


114.35 


8,833,59 


22.35 


1,72«.55 


341.73 


26,398.81 


22.61 


1,746.63 


60.37 


4,663.01 


31.16 


2,407.13 


2.08 


160. 68 


117. C5 


9,042.17 


114.02 


8,808.10 


129.04 


9,968.40 


774.52 


^9,832.06 


4.90 


378.5a 


97.47 


7,529.61 


19.00 


1,467.76 


195.70 


15,117.92 


286.90 


22, 163. 17 


35.00 


2,703.77 


103.20 


7,972.25 


12.24 


946. 32 


282.50 


21,823.27 


16.00 


1,236.01 


38.10 


2, 943. 24 


126.30 


9,756.74 


27.30 


2,108.94 


71.60 


5,531.14 


209.70 


16,199.43 


304.80 


23,545.95 


620.00 


47,895.31 



6S 



N. C. CORPORATION COMMISSION. 



Western Union Telegraph Company — Continaed. 



Rowan 

Rutherford . 

Sampson 

Stanly 

Stokes 

Surry 

Swain 

Union 

Vance 

Wake 

Warren 

Washington. 

Wayne 

Wilkes 

Wilson 



County. 



Miles. 


Valuation 


613.70 


$47, 408. 63 


24. 80 


'1,877.19 


75.00 


5,793.79 


22.50 


1,738.14 


40.10 


3,097.74 


51.00 


3,939.78 


38.00 


2,935.52 


126. 10 


9,741.29 


79.20 


6,118.24 


317. 10 


24, 496. 13 


78.00 


6,0J5.54 


11.20 


865. 21 


355.75 


27,481.87 


17.75 


1,371.20 


285. 10 


22,024.12 


12,944.90 


1,000,000.00 



ASSESSMENT OF TELEGRAPH PROPERTY. 



69 



Western Union Telegraph Company — Continued. 



Name of Town. 



Aberdeen 

Ahoskie 

Albemarle 

Apex 

Athboro 

Asheville 

Ayden 

Battleboro 

Benson 

Bethel 

Black Creek 

Bryson City 

Bargaw 

Burlington 

Cameron 

Canton 

Cary 

Ch idbourn 

Charlotte 

Cherry ville 

China Grove 

Claremont 

Clinton 

Clayton 

Concord 

Conetoe 

Conover 

Cleveland 

Clyde 

Davidson College 

Dallas 

Dillsboro 

Dunn 

Durham 

Earles 

Elkin 

Elk Park 



Total 



Distance 
Miles. 


Valuation 
Per Mile. 


Assessed 
Value. 
Towns. 


2.00 


S77.25 


$154.50 


1.48 


do 


114.33 


.80 


do 


61.80 


1.80 


do 


139.05 


1.07 


do 


82.66 


25. 12 


do 


1,940.52 


.80 


do 


23.18 


6.3H 


do 


491.31 


2.50 


do 


193. 13 


.27 


do 


20.86 


4.77 


do 


368.48 


.80 


do 


61.80 


3.30 


do 


254.93 


10.00 


do 


772.60 


1.8(i 


do 


143.69 


.57 


do 


44.03 


16.08 


do 


1,242.18 


9.03 


do 


697.56 


66.44 


do 


5,132.49 


1.16 


do 


89.61 


28.84 


do 


2,227.89 


4.00 


do 


309.00 


.33 


do 


25.49 


7.91 


do 


611.05 


6.51 


do 


502.90 


.63 


do 


48.67 


5.00 


do 


386.25 


5.32 


do 


410. 97 


.73 


do 


56.39 


1.83 


do 


141.37 


.76 


__.-.. do ___._. 


58.71 


.67 


do 


51.76 


5.00 


do 


386. 2& 


5.38 


do 


415. 61 


1.00 


-._- do ______ 


77.25 


.93 


do 


71.84 


1.20 


do 


92.70 



70 



N. C. CORPORATION COMMISSION. 



Western Union Telegraph Company — Continued. 



Name of Towa. 


Distance. 
Miles. 


Valuation 
Per Mile. 


Total 

Asses^sed 

Value. 

Towns. 


Ellenboro 


1.51 

17. 22 

16.32 

s'^0 

6.70 

5.04 

18.64 

.83 

2.85 

2.10 

5.67 

11.44 

17.15 

108.52 

1.00 

1.46 

8.16 

6.06 

1.67 

10.85 

33.50 

.85 

5.00 

8.12 

.90 

3.20 

.71 

1.29 

2.94 

3.42 

3.50 

4.52 

21.22 

5.83 

1.29 

2_06 

1.46 

6.00 


$77.25 

do 

do 

do 

d . 

do 

do 

do 

do 

do 

do 

do 

do 

-..-.-do...... 

do 

d) 

do 

do 

do 

......do...... 

do 

do 

d) 

dj 

do 

do 

do 

do 

do 

do 

do 

do 

do 

do 

do 

do 

do 

do 


$116 65 


Elm City 


1 330 25 


Enfield 


1 260 72 




6' SO 


Paison ._ _ ___ _ 


517.58 


Fair Blufl 


389 34 


Fajetteville 


1 439 94 


Forest City 


61 12 


Four Oaks 


220 16 


Franklinton_ _ _ _ ___ 


162 23 


Fremont. _ _ _ _ 


438. 01 


Gastonia 


883 74 


G jldsboro 


1 321 84 


Greensboro 


8,383.17 
77 25 


Greenville 


Grifton _ — __ _ 


112 79 


Grover__ _____ 


630. 36 


Henderson _ _ 


468. 14 


Hendersonville ______ 


129.01 


Hickory 


838 16 


High Point 


2,587.87 
65 66 


Hillsboro _ ^ 


Hobgood 


386. 25 


Hope Mills _ 


627. 27 




69.52 




247. 20 


Jacksonville _ _____ 


54.84 


Jamesville _ 


99.65 


Jonesboro 


227. 1 1 


Kenly 


264 19 


Kelford 


270. 38 


Kernersville _ _ _ 


349. 17 




1,639.24 


Kinston _ _ _ _ _ _ 


450. 37 


Kittrell ______ __ _ __ _ 


99.65 


TCfiyspr 


159.13 


Li "jg range 


112.78 


Laurinburg 


463.50 



ASSESSMENT OF TELEGRAPH PROPERTY. 
Western Union Telegraph Company — Continued, 



71 



Name of Town. 



Distance. 
Miles. 



Valuation 
Per MiJe, 



Total 

Assessed 
Value. 
Towns. 



Lenoir 

Lexington 

Liberty 

Lilesvilie 

Littleton 

Lincolnlon 

Lowell 

Lucatna 

Lunibertou 

MKC'.n 

Mbdis n 

McFarland—- 

Mnlden 

Munly 

Mngnolia 

Mano!) 

Marshall 

Mebane 

Mixt.in 

Milt»n 

Mo 'ksville 

Morehead City 

MoiJroe 

Muoresville — 
Mount Airy__. 
Mount Holl> __ 

Morri-ville 

Moncure 

M'lrganton 

Mount 011ve__ 
Murfreesboro_. 

Murphy 

Matthews 

Nashville 

New Bern 

New Lundon__ 
Isewpart 



$77. 25 

do 

do 

do 

do 

do 

do 

do 

do 

do 

do 

do 

do 

do 

do 

do 

do 

do 

do 

do 

d) 

do 

do 

do 

do 

do 

do 

d ) 

do 

do 

do 

do 

do 

do 

do 

do 

do 



72 



N. C. CORPORATION COMMISSION. 



Western Union Telegraph Company — Continued. 



Name of Town. 


Distance. 
Miles. 


Valuation 
Per Mile. 


Total 

Assessed 
Value. 
Towns. 


Newton _ _ __ _ . _ _ 


5.72 

1.00 

.10 

2.80 

3.96 

2.15 

7.47 

3.60 

.90 

19.33 

5.00 

.50 

.81 

.70 

.40 

32.32 

3.00 

33.31 

.60 

3.15 

32.62 

.74 

3.28 

1.00 

1.71 

46.57 

2.00 

9.32 

3.00 

11.42 

1.00 

5.27 

2.00 

.90 

2.34 

.60 

.83 


$77.25 

do 

do 

do 

do 

CO 

do 

do 

do 

do 

..____ do ______ 

do 

do 

do 

______ do ______ 

do 

do 

do 

do 

do 

do 

do 

do 

do 

do 

do 

do 

do 

do 

do 

do 

do 

^__ do 

do 

do 

do 

do 


8441.87 


North Wilkesboro. _ 


77.25 


Norwood _ _ __ _ _ . 


7.73 


Old Fort 


216. 30 


Oxford — 


305. 91 


Parmele 


166. 09 


Pikeville 


577. 06 


Pine Level 


278.10 


Pilot Mountain _ 


69.52 


PinevJlle __ 


1,493.24 


Polkton . _- - - 


386.25 


Polloksviile . _.._ _ _ 


88.63 


Plymouth ____________ 


62.57 


Ramseur ___. . 


54.07 


Randleinan _ __ ___ . _ __ _. 


30.90 


Raleigh 


2,496,72 
231.76 


Red Springs 


Reidsville - 


2, 575, 52 


Robersonville 


46.35 


Rockingham 


243.34 


Rocky Mount 


2,519.89 


Roseboro 


57.17 


Rowland 


253.38 


Roxb aro 


77.25 


Salem __ 


132.10 


Salisbury _ __ 


3,597.53 


Saluda . 


154.50 


Sanford — _ _ _ 


719.97 


Seaboard 


231.75 


Selma . 


882.20 


Scotland Neck ._ 


77.25 


Shelby _ 


407.11 


Siler City 


154.50 


8mithfleld_ _ _. _ - 


69,53 


Southern Pines _ _ __ 


180.76 


bpring Hope . __ __ 


46.35 


Stanly Creek 


64. 12 



ASSESSMENT OF TELEGRAPH COMPANIES. 



73 



Western Union Telegraph Company — Continued. 



Name of Town. 



States ville __ 
Stoneville ___ 

Sylva 

Tarboro 

Taylorsvilie _ 
Thomasville. 

Trinity 

Tryon City __ 

Vaughan 

Wallace 

Warrenton __ 

Warsaw 

Washington- 

Waxhaw 

Waynesville 
Wafee Forest 

Weldon 

Whiteville— 

Whitaker 

Willlan3ston 
Wilmington- 

Wilson 

Winfall 

Winston 



Distance. 

Miles. 



8.62 

1.74 

.67 

14.37 

.37 

28.97 

.80 

1.80 

2.61 

6.70 

1.74 

14.20 

2 00 

.87 

.93 

3.39 

21.38 

6.60 

15.86 

.92 

48.08 

16.98 

.50 

8.93 



Valuation 
fer Mile. 



$77.25 

do 

do 

do 

do 

do 

do 

do 

do 

do 

do 

do 

do 

do 

do 

do 

do 

do 

do 

do 

do 

do 

do 

do 



Total 
Assessed 

Value. 
Towns. 



$665. 90 

134. 41 

51.76 

1,110.08 

28.58 

2,237.93 

61.80 

139.05 

201. 62 

517.58 

134.41 

1,096.95 

154. 50 

67.21 

71.84 

261.88 

1,65]. 60 

509. 86 

1,2-25.19 

71.07 

3,714.18 

1,311.70 

38.63 

689.81 



74 



N. C. CORPORATION COMMISSION. 



ATLANTIC POSTAL TELEGRAPH CABLE COMPANY. 



STATEMENT F.— Showing Counties, Towns and Valuation, 1899 



Valuation of property 850,0C0.00 

Valuation per mile 30. 73i9 

T.>tal mileage . 1 , 626. 92' 



CtHint.v. 


Miles. 


Valuati =rj. 


Bladen 

Brunswick 

Columbus 

Cumberland . - — . 


95.20 

27.80 

17.00 

212.08 

27.00 

97.20 

147.00 

76.00 

7.00 

4.00 

41.60 

121.40 

108.24 

162.40 

293.80 

189.20 


$2,925.77 

854.37 

552. 46 

6,517.83 

829.79 

2, 987. 24 

4 517 74 


Durham 

Franklin 

Harnett _ 


Halifax. _ „ _._ 


2,335.70 
2 5.13 






122.93 


Northampton , __ 


1,278.49 




3,730.97 
3,326.53 
4,991.02 
9,0.9.33 
5 814.66 


Robeson 


Vance _ _ 


Wake 


Warren _ . _. , __ _ 








1,626.92 


50,000.00 




1.20 
15.75 

6.00 
10.00 
12.00 
23.62 

6.40 




Towns. 




Durham 


36.88 
484.04 
184.40 
307.33 
368.79 
725 91 


Fayetteville 

Pranklinton 


Henderson 

Littleton 

Raleigh . _ 


Warrenton 


196. 69 




2,301.01 



ASSESSMENT OF TELEGRAPH COMPANIES. 



75 



STATEMENT G. —Miscellaneous Telegraph Companies. 



Name of Company. 


Distance. 


Valuation 
Per Mile. 


T<.t*l 
Assessed 

Value 
Counlic^s. 


Elizabeth City and Norfolk Telegraph Co.— 52 miles. 








Camden ... .. . 


10.00 


$20.96 


$209. 60 


Pdsquotanfe . _ ._ _. . ._. 


19.00 


.-._ do -. . 


398. 28 


Perquimans .__ 


18.00 


do.. - 


b77. 32 


Chowan _. 


5.00 


.-..dO-_-_. 


1(14.80 






Valuation. _.. . __. _. 


1,090.00 


Tjouisburg Telegraph C >. 






Franklin 






160.00 


Lenoir and Blowing Rock Telegraph Company. 








Caldwell 


20.00 




490.00 


Watauga 


2.00 




50.00 








Valuation 


530.00 


Pittsboro and VIoncure Telegraph Line. 








Chatham ._ _. . 






250.00 


Carthage Telegraph Co. 








Moore 






200.00 


Wilmington and Southport Line, 








Brunswick __. . 






500. 00 


Carolina Postal Telegraph Co. 








Cumberland 






165 00 











76 



N. C. CORPORATION COMMISSION. 



Assessment of Stean)boat aod Caoal Property. 



STATEMENT H. 



Owner, 



Thomas McGinn 

Broaddus & Ives 

New Bern and Seven Springs Transportation Company. 

D.C. Way Lumber Company 

A.J.Gatlin 

SvcansboTO Lumber Company 

P.B.Smith „ - 

M. B. Smith __. 

J.J. Lassiter 

Archey E.K. Marine 

Moccasin River Steamboat Company 

Roanoke and Tar River Steamboat Company 

Perquimaus River Company 

W.B.Ellis 

H.G. Wood 

D.W. Roper 

Tar River Oil Company 

W. P. Baugham, Pungo Lumber Company 

W.B. Walling 

Wilmington and Little River Transportation Company. 

T.H.Hawkins 

W.H. Ward 

Navassa Guano Company 

J. W. Harper 

Cape Fear Towing and Transportation Company 

Diamond Steamboat Company 

Black River Packet Company 

Kramer Bros. & Co 

C.H.Sterling 

Albemarle Chesapeake Canal Company 

Thomas D. Holly 

A.R. Fowle & Son _. 



Steam 
boats. 



County. 



1 New Hanover 

1 Craven 

1 Lenoir 

1 Beaufort 

1 Craven 

I 
1 } Onslow 

1 ' Onslow 

2 I Craven 

2 [ Craven 

1 j Onslow 

1 I Pitt 

1 ! Martin 

2 I Perquimans 

1 I Craven 

2 Chowan 

1 Chowan 

2 j Edgecombe 

1 Beaufort 

2 Beaufort 

1 New Hanover 

1 New Hanover 

2 tender — 

1 New Hanover 



Brunswick 

Brunswick 

New Hanover. 
New Hanover- 
Pasquotank— 

Beaufort 

Currituck 

Bertie 

Beaufort 



Valua- 
tion. 



$650.00 

800.00 

500.00 

500.00 

800.00 

1,000.00 

500.00 

2,000.00 

1,800.00 

800.00 

1,000.00 

13,883.78 

2,100.00 

800.00 

600.00 

800.00 

5,050.00 

1,000.00 

1,800.00 

3,000.00 

300.00 

1,500.00 

3,000.00 

11,200.00 

21,160.00 

3,500.00 

2,600.00 

400.00 

1,500.00 

100,000.00 

500.00 

800.00 



ASSESSMENT OF STEAMBOAT PROPERTY. 



77 



STATEMENT H.— Continued. 



Owner. 



C.F.Suirner 

J. G. & F. Wood 

W. R. Capehart 

Merchants' and Farmers' Steamboat Company. 
E.S.Willey 

Albemarle Steam Navigation Company 



J. D. Weymouth ,' 

Branning Manufacturing Company 

J.C.Whitty .._ 

Chas. Wessell 

ScrantoQ and N.C. Land and Lumber Company. 
S.W. Skinner 

Cape Fear River Transportation Company 

Fairfield Canal and Turnpike Company 

Carteret Oil and Fertilizer Company 

E.M. Short Lumber Company 

John B. /Vheatton,Jr 

Old Dominion Steamship Company 



Mattamuskeet Drainage Company 

Pamlico Oyster Company 

Gard & Thornton 

Fairfie:d and Edzabeth City Transportation Company 
Walter Taft _. 

Labe Drummond Canal and Water Company 

T. G. Dixon, Jr __ 

David Styron 



Steam 
boats. 



County. 



Perquimans.. 

Chowan 

Bertie 

New Hanover 

Perquimans— 

Chowan 

Bertie 

Gates 

Hertfoid 

Perquimans.. 

Chowan 

Craven 

New Hanover 

Hyde 

New Hanover 

Cumberland .. 

Hyde 

Carteret 

Beaufort 

Beaufort 

Perquimans. . 

Camden 

Dare 

Hyde 

Carteret 

Pamlico 

Craven 

Beaufort 

Pitt 

Edgecombe- 

Hyde 

Hyde 

Pasquotank .. 

Hyde 

New Hanover. 

Camden 

Pasquotank--. 

Craven 

Craven 



78 



N. C. CORPORATION COMMISSION. 



Assessment of Pullman's Palace Car Company. 



STATEMENT I.— 1899. 



Valuation of property... $150,832.21 

Valuation per mile 117.9759 

Total mileage 1278.60 miles 



Apportioned to the following Counties, 



County. 


Distance. 

1278.50 Milts. 


Valuation 
Per Mile. 


Tot^l 
Assessed 

Value. 
Counties. 


Alamance 


17.05 
27 50 


$117.97 
do 


$2,011.49 


Anson 


3,244.34 
1,544.30 


Bertie. 


13.09 


do 


Brunswick 


17.88 


do 


2,519.53 


Buncombe 


45.03 


do 


5,312.45 


Burke 


29.70 


._ _. do 


3,503.88 
2,024.47 


Cabarrus 


17.16 


do 


Caswell ._ . 


7.10 
22.94 
15.95 


do 

do 

do 


837. 63 


Catawba. 


2,706.37 


Chatham „ 


1,881.72 


Cleveland 


8.77 
50.45 
32.74 


do 

do 

do 


1,034.65 


Columbus 


5,951.78 


Cumberland _. 


8,862.5S 


Davidson ... _. . 


24.80 


do 


2,925.80 


Duplin 


33.96 


do -_ _. 


4, 006. 46 


Durham. 


16.22 
20.56 


do 

do 


1,913.57 


Edgecombe 


2,425.58 


Franklin. 


12.91 
23.00 


do 

do 


1,52.^.07 




2,713.45 


Gates 


14.84 


do 


1,750.7^ 


Guilford 


54.23 


do 


6,397.8S 


Halifax 


55.47 


do 


6,544.12 


Harnett 


6.42 


do 


757.41 


Henderson 


21.56 


do 


2,543.56 


Hertford 


14.53 


d ) 


1,714.19 


Iredell 


20.11 


do 


2,372.50 



ASSESSMENT OF PULLMANS PALACE CAR COMPANY. 



79 



STATEMEKT I.— Continued. 



County. 



Johnston 

Madison 

McDowell 

Mecklenburg- 
Moore -. 

Nash 

New Hanover. 
Northampton- 

Orange 

Pender 

Polk 

Randolph 

Richmond 

Robeson 

Rockingham- 

RowatJ 

Union 

Vance 

Wake 

Warren 

Wayne 

Wilson 



Dis'anrp. 
1278.50 Miles. 


V54luation 
Per Mile. 


Total 
Assess* d 

Value. 
CouDiie^. 


57.62 


$117.97 


$6,797.77 


28.80 


do 


3,338.72 


32, 24 


. ._ do 


3,803.54 


58.70 


do 


6,925.19 


88.50 


do 


4,542.07 


11.18 


do 


1,318.97 


9.42 


do 


1,111.33 


25.90 


do 


3,055.58 


11.27 


do 


2,037.44 


25.19 


do 


2,971.81 


10.00 


6o 


1,179.76 


.60 


du 


70.79 


32.73 


do 


3,861.85 


34.70 


do 


4,093.76 


21.20 


do 


2,501.09 


?8. 12 


do 


4,497.24 


39.80 


do 


4,695.44 


20.85 


do 


2, 459. 80 


72.47 


do 


8,549.71 


23.71 


do 


2,797.21 


29.76 


do 


3,510.96 


31.27 


do 


3,689.11 




150,832.21 



80 



N, C. CORPORATION COMMISSION, 



Petal 

Assessed 

Value 

Towns. 


$1,177.09 
4,019.34 
2,440.31 
2,870.9S 
4,019.34 
861.29 
2,296.76 
1,435.48 
2,870.96 
^ 2,583.86 

2,455.36 
22.32 


T tal 

Assessed 

Value. 

Counties. 


$53,801.72 
57,390.42 
68,070.87 
59,859.44 
37,064.05 

52,455.13 
35,602.53 
85,937.15 
64,129.19 


1^ 


S i , i ; i ! i 1 i i J 1 i i 2 1 i ; i i i 
55 i ■ ! ! ' ! ! i I i 1 ' i ! g 1 i i i ; 1 

°°-ooooococoooooc^looooc 

M M i M M M M 1 i i I M 


s 

g 

"S 

5 


18.74 

19.99 

23.71 

20.85 

12.91 

.41 

1.40 

.85 

1.00 

1.40 

.30 

.80 

.50 

1.00 

.90 

23 50 

15.95 

38.50 

28.73 

.20 

1.10 

.01 


c 
2; 


Weldon 

Littleton 

Vaughan .__ 

Macon 

Henderson 

Kittrell __.- 

Franklinton 

Youngsville 

Wake Forest_-_. 
Raleigh 

Raleigh 

Gary 

Apex 


1 


Wake 

Halifax 

Warren 

Vance 

Franklin 

Wake„_ _. 

Chatham 

Moore 

Richmond 


o 

4) 

a 
1 


Raleigh and Gaston Rai road Co , Rolling Stock— 

1894-'95-'9fr-'97, $276, 186. 

Raleigh and Augusta Air Line Railroad C ., Rolling 
StOck-1894-'95-'96-'97, $238, 124 



ASSESSMENT OF EAILROAD PROPERTY. 



81 



2 S 


2 S 

oq~ cc 


£3 2 1 5S 1 1 S g 12 ^ 

?q" oq" 1 of I ' io~ io~ cxT i-T 


1 

1 




1 j 1 j ro o 

1 1 M i -^ 
Mil 




CO 

i 


O 

1 


I 1 1 ! 31 1 
1 . 1 ! M I 

o o o o "^.^ c c 

"O -d -d T3 lo -o 73 


o o o 
d -d -d 


1.00 
.08 
1.00 
1.46 
1.00 
1.00 

.99 
17.97 

.32 
1.00 
1.00 
1.50 

.30 


? 1 
i 1 
1 a 


Manly 

Southern Pines _ 

Aberdeen 

Keyser 

Hoffman 

Hamlet 

Margarettsville . 

Seaboard 

Gary's 

Wei don 


O i 

a i 

« i 


a 

6 

1 5 

a ^ 

i! 

® or 

1 




1 

.ill 

o 

_o 

be 

q 

1 

© o 

1 

1 s 

1 i 





82 



N. C. CORPORATION COMMISSION. 



Compilation from Railroad Eeturns for the Year Ending June 30, 1899. 



AtlaQtic Coast LiQe Systeri). 



Lines Owned, Leased, Controlled and Operated in North Carolina. 



Wilmington and Weldon Railroad and Branches 

Wilmington Columbia and Augusta Railroad, including Conway Branch, 
(A.O.L.ofS.C.) 

Cheraw and Darlington Railroad ( A. C. L, K. R. of S. 0.) 

Petersburg Railroad (A.C.L.R. R.of Va.) 

Norfolk and Carolina 

Dummy Line 

Spurs 




972.11 



WILMINGTON AND WELDON RAILROAD COMPANY. 

DIRECTORS. 



Name of Director. 


Pust-office Address. 


Date of Expiration 
of Term. 




Baltimorf , Maryland 

Baltimore, Maryland 

Baltimore, Maryland 

Baltimore, Maryland 

Tarboro, N. C — 

Galdsboro,N.C 

Wilmington, N.C 


November 22, 1899 


Henry Walters - 


November 22, 1899. 




November 22, 1899. 


J P McCay 


November 22, 1899. 


FTnn dfctvca TToxTfl.rd _ . 


November 22, 1899. 


Tf. R T?r»rdfin 


November 22, 1899 


J W Norwood - 


November 22. 1899, 


Tnnina T^flTT^Isi 


Wilmington, N.C— 


November 22, 1899. 


Donald McRae 


Wilmington, N.C 


November 22, 1899. 


H B Plant - 


New York, N. Y __ 


November 22, 1899. 









WILMINGTON AND WELDON RAILROAD COMPANY. 



83 



OFFICERS. 



Title. 



President 

First Vice-President . 

Secretary 

Treasurer 

Auditor— General 

General Manager 

General Superintendent 

Superintendent of Telegraph and Trans- 
portation. 

Ti-afflc Manager _ 

General Freight Agent and General Pas- 
senger Agent. 



Name. 



Warren G. Elliott 

Henry Walters 

James F. Post, Jr. 
James F. Post,Jr_. 

W. A.Riach 

J. R. Kenly _„ 

John F. Divine 

Edwin Borden 

T. M. Emerson 

H. M.Eoaerson 



Location of Office. 



Wilnjiugton,N.C. 
Wilmington, N.C. 
Wilmington, N.C. 
Wilmington, N.C. 
Wilmington, N. C. 
Wilmington, N.C. 
Wilmington, N.C. 
Wilmington, N.C. 

WilmiDgton,N.C. 
Wilmington, N.C. 



WILMINGTON AND WELDON RAILROAD COMPANY. 



NAME. 


TERMINALS 


Miles of 

Line for 

each Road 

named. 


Miles of 
Line for 




From— 


To- 


if Roads 
liamed. 


Wilmington and Weldon... 
Branches. 

Wilson and Fayetteville 

Tarbaro 


Weldon. 


vv^llmington 


161.40 

116.20 

68. '27 
85.82 
25.39 
19.20 
13.43 
21.50 
86.21 
17J.86 


161.40 


Contentnea 

Rocky Mount 

Pender 

Parmele - 


N, and S.C.S ate Line 

Plymouth 


Scotland Neck and Kinston 


Kinston 




Washington 


Washington 




Nashville 


Rocky Mount 

Warsaw 

Goldsboro 

Wilmington 

Wilmington 


Spring Hope 




Clinton 


CLiuton 




Midland 


Smi'hfield 

New Bern 




New Bern 




Yadkin 


Sanf jrd 8l Bennettsville 






611.88 

15. 8S 


Spurs to Mills, etc - 


15.88 
1.25 


Dammj^ Line . 














Total 


79 1.41 









CAPITAL STOCK. 



Number of shares authorized— Common 

Par value of shares 

Total par value authorized 

Total amount issued and outstanding .__ 
Dividends declared during year 



30,000 

$100.00 

3,00^000.00 

3,000,000.00 

240,000.00 



Rate of interest 8 per cent. 



84 



N. C. CORPORATION COMMISSION. 



FUNDED DEBT. 
MORTGAGE BONDS, MISCELLANEOUS OBLIGATIONS, AND INCOME BONDS. 



CLASS OF BOND OR 
OBLiIGATIOK. 



O 03 



<S (15 



Araouul of 

Authorized 

Issue. 



Amount 
Issued. 



Amount 

Outstatid 

ing 



Cash 

Realized 

OQ Amtiunt 

Issued. 



General Fir^t Mortgage Bonds .. 

General First Mortgage Bonds - 

General First Mortgage Bonds 
A. and R. 

General Firpt Mortgage Bonds 
W. and N. Br. 

General First Mortgage Bonds 
A. and Y. 

Cektifcates of 

Indebtedness — 

Special trust certificates 

Certificates of iadebtedcess* . 

Total 



1885 



1935 
1935 
1947 

1947 



$3,062,000.00 
938,000.00 
500,000.00 

500,OCO.OO 

1,800,000.00 



380,000.00 
2,500,0C0.00 



$3,062,000.00 
938,000.00 
500,000.00 

500,000.00 

1,800,000.00 



380,000.00 
2,500,000.00 



$3,062,000.00 
938,000.00 
500,000.00 

500,000.00 

1,800,000.00 



380,000.00 
2,500,000.00 



$3,062,000.00 
938,000.00 
500,000.00 

500,000.00 

1,800.000.00 



380,010.00 



9, 680,000. 80 9, 68i', 000. 00 | 9, 6b0, 000. 00 7, 180, 000. 00 

I 



CLASS OF BOND OR OBLIGATION. 



General First Mortgage Bonds 

General First Mortgage Bunds 

General First Moitgage Bonds, A. and R-— 

General First Mortgage Bonds, W. and X. 
Br. 

General First Mortgage Bonds, A. and Y. 

Certificates of Indebtedness— 

Special tru.«'t certificates 

Certificatirs of Indebtedness* 



Less corrections 1n foimer years. 
Total 



interest. 



Rale 

fer 

Cent. 



When 
Payable. 



Jaii.& July. 
Jan.& July. 
Jan. & July. 
Ptb.& Aug. 

June. & Dec- 



Apr.& Oct. 
Apr.S Oct. 



Amount 

AccruHd 

Duriig Year. 



Amount 

Paid 

During Year. 



$153,100.00 
37,5'JO.OO 
20,000.00 
20,000.00 



2 '.800.00 
175,000.00 



428,420.00 

12,000.00 

416,420.00 



* Irredeemable. 



WILMINGTON AND WELDON RAILROAD COMPANY. 
RECAPITULATION OP FUNDED DEBT. 



85 



Mortgage bonds— amouat issued 

Mortgage bonds— amount outstanding. 
Interest— amount accrued during year 
Interest— amount paid during year . — 



$9,680,000.00 

9,680,000.00 

416,420.00 

416,420.00 



CURRENT ASSETS AND LIABILITIES. 



ASSETS. 

Cash 

Bills receivable 

Due from agents 

Due from solvent companies and individuals 

Cash deposited to pay coupons 

Total— cash and current assets 

Total 

LIABILITIES. 

Audited vouchers and accounts 

Wages and salaries 

Dividends not called for 

Matured interest coupons unpaid (including coupons due July 1 

Miscellaneous 

Total — current liabilities 

Balance— cash assets 

Total 



$82,901.00 

7,576.79 

42,882.40 

718,161.14 

107,245.00 



958,766.33 


958, 76?. 33 


$38,406.66 


76,658.35 


3,369.50 


106,580.63 


88,678.70 


313, 1 93. 84 


645,072.49 



958,766.33 



RECAPITULATION. 
FOR MILEAGE OWNED. 



ACCOUNT, 


Total 

Amount 

Outs anding 


Apportion- 
ment to 
Railroads. 


AMOUNT PER MILE OF LINE- 




Miles. 


Amount. 


Capital Stock 


$3,000,000.00 
9,680,000.00 


$3,000,000.00 
9,680,000.00 


789.16 
789. 16 


$3,802.00 
12,266.00 


Bonds 




Total . __ 


12,680,000.00 


12,680,000.00 




16,088.00 





86 



N. C. CORPORATION COMMISSION. 



COSP OP ROAD, EQUIPMENT AND PERMANENT IMPROVEMENTS. 



Grand Total Cost Construction, Equipment, Etc — 

Expenditures during year charged to construction or equipment 

Total cost to June 30, 1898 

Total cost to June 30, 1899 

Cost per mile , 



$1,597,835.36 
11,315,657.32 

12,913,492.68 
16,3^7.71 



INCOME ACCOUNT. 



Gross earnings from operation.- 

Less operating expenses „ 

Income from operation 

Dividends on stocks owned 

Miscellaneous income 

Income from other sources 

Total income 

Deductions from Income— 

Interest on interest- bearing current liabilities accrued 

Rents paid for lease of road 

Taxes . „ 

Total deductloES from income 

Net Income 

Dividends, 8 per cent common stock . 

Total „ 

Surplus from operations of year ending June 30, 1899 

Surplus on June 30, 1898 [From '• General Balance Sheet," 
Report.] 



Deductions for year „ , 

Surplus on June30, 1899 [Forentry on "General Balance Sheet."] 



$2,405,373.97 

1,268,887.87 



21,4 9.44 

48,884.08 



416,420.00 

523.00 

77,126.57 



240,000.00 



$1,136,486.10 





70,343.52 


1,206,829.62 






494,069.57 


712,760.05 


240,000.00 


472,760.05 
890,455.94 


1,363,215.99 
400,000,00 



963, 215. 1 



STOCKS OWNED. 
A. RAILWAY STOCKS. 



Name. 


Total 
Par Value. 


Income 

or Dividend 

Received. 


Valuation. 




$50,000.00 


86,318.78 


$50, COO. 00 






Total... 


50,000.00 6,318.78 


50,000.00 



WILMINGTON AND WELDON RAILROAD COMPANY. 
B. OTHER STOCKS. 



8T 



Name. 


Total 
Par Value. 


Income 

or Dividend 

Received. 


Valuation. 


A. C. Line Sleeping-Cat Association _ 


$58,415.82 


$15,140.66 








Total _ 




15,140.66 










Grand total— A and B . 


58,415.82 


21,459.44 









EARNINGS FROM OPERATION. 



Item. 



Passenger— 

Total passenger revenue 

Mail - - - 

Express 

Extra baggage and storage 

Total passenger earnings 

Freight— 

Total freight revenue .- 

Total freight earnings 

Total passenger and freight earnings 

Other Earnings from Operation— 

Car mileage— balance 

Telegraph companies 

Rents from tracks, yards, and terminals 

Other sources 

*Total other earnings ' 

Total gross earnings from operation— N. C 

Total gross earnings from operation— entire lint 



Total 
Receipts. 



Deductions, 
account of Re 

payments.etc. 



Actual 
Earnings 



$550,351.07 

110,747.11 

77,800.61 

7,014.65 



745,413.44 



1,508,857.71 



1,508,857.71 



2,254,271.15 

14,348.42 

5, 162. 7 7 

20,980.32 

110,611.31 



151,102.82 



2,405,373.97 
2,405,373.97 



RENTALS RECEIVED. 

Situation of property— Sel ma to Tarboro. Company using property— Southern Railway Co. 
Rent received, $20, 980. 32. 





MISCELLANEOUS INCOME. 




Interest, rents, etc _ 


$46,127.60 
1 538 24 


Operating hotels 


Rent from rails 


1 218 24 








Total 


48,884.08 





S8 



N. C. CORPORATION COMMISSION. 



OPERATING EXPENSES. 



Maintenance of way and structures. 

Maintenance of equipment 

Conducting transportation 

General expenses 

Grand total . 

Percentage of expenses to earnings.. 



$351,891.70 

315,340.48 

542,162.49 

59,490.20 



1,268,887.87 



52.75 



RENTALS PAID. 
South Carolina and Pacific Railway— interest one month. 



$523.00 



COMPARATIVE GENERAL BALANCE SHEET. 



JUNE 30, 1898. 


ASSETS. 


YEAR ENDINO JUNE 30, 1869. 


Total. 


Total. 


Increase. 


Decrease. 




(Cost of road 


$12,913,492.68 

58,415.82 

26,235.00 

958,766.33 


$1,685,778.66 

58,415.82 

26,235.00 

256,080.28 




$11,315,657.32 


(Cost of equipment-__„ 

Stocks owned .__._ . _ . 












702,686.85 


Cash and current assets 




Grand total 




12,018,343.37 


13,956,909.83 


2,026,509.76 




LIABILITIES. 

Capital stock 




3,000,000.00 

7,880,000.00 

247,887.43 

890,455.94 


3,000,000.00 

9,680,000.00 

313.693.84 

963,215.99 


1,800,000.00 
65,806.41 
72.760.05 




Funded debt 




Current liabilities -' 




Profit and loss.- __ _. __. 




Grand total 




12,018,348.37 


13,956,909.83 


1,938,566.46 









EMPLOYEES AND SALARIES. 



Class. 



Number. 



Total 
Number 
of Days. 
Worked. 



Total Yearly 
Compensa- 
tion. 



Average 
Daily 

Compen- 
sation. 



General ad min 1 stration 

Maintenance of ways and structures 

Maintenance of equipmect 

Conducting transportation 



100 
520 
319 
602 



36,500 
166,374 

99,528 
199, 278 



$31,805.04 
141,507.48 

146. 149. 22 

292. 146. 23 



.87 

.85 

1.47 

1.47 



WILMINGTON AND WELDON RAILROAD COMPANY. 



89 



PASSENGER AND FREIGHT, AND TRAIN MILEAGE. 



Item. 



Passenger Traffic— 

Number of passengers carried earning revenue 

Number of passengers carried one mile 

Number ofpassengers carried one mile per mile of road. 

Average distance carried 

Total passenger revenue 

Average amount received from each passenger 

Average receipts per passenger per naile 

Total passenger earnings . 

Passenger earnings per mile of road 

Passenger earnings per train mile 

Freight Traffic— 

Number of tons carried of freight earning revenue 

Number of tons carried one mile 

Number of tons carried one mile per mile of road 

Average distance haul of one ton 

Total freight revenue 

Average amount received for each ton cf freight 

Average receipts per ton per mile 

Total freight earnings 

Freight earnings per mile of road 

Freight earnings per train mile 

Passenger and Freight— 

Passenger and freight revenue 

Passenger and freight revenue per mile of road 

Passenger and freight earnings 

Passenger and freight earnings per mile of road 

Gross earnings from operation 

Gross earnings from operation per mile of road 

Gross earnings from operation per train mile 

Operating expenses ._ . 

Operating expenses per mile of road 

Operating expenses per train mile 

Income irom operation 

Income from operation per mile of road 



Column for 
Tonnage, 
No.Passen 
gers. No. 
Trains, 
Mileage, 
No. Cars. 



Columns for Revenue 
and Rites. 



Dollar i 



498,814 

24,038,508 

30,461 

48 



$550,351 
1 



,137,947 

,502,794 

124,820 

87 



745, 413 
944 



1,508,857 

1 



1,508,857 

1,911 

2 

2,059,202 

2,609 
2,254,271 

2,856 
2,405,373 

3,048 

1 

1,268,887 

1,607 



1,136,486 
1,440 



Cents 



90 



N. C. CORPORATION COMMISSION. 



PASSENGER AND FREIGHT, AND TRAIN MILEAGE— Continued. 



Item. 


Column for 
Tonnage, 

No. Passen- 
gers, No. 
Trains, 
Mileage, 
No. Cars. 


Columns for Revenue 
and Rates. 


Train Mileage— 

Miles run by passenger trains 


749,947 
670,639 

42,482 


Dollars. 


Cents 


Mills. 


Miles run by freight trains 




— - 




Miles run by mixed trains 














Total mileage trains earning revenue 


1,463,068 
180,560 
51,955 




Miles run by switching trains 








Miles run by construction and other trains 












Grand total train mileage 


1,695,583 
6,214,180 
4,661,865 
1,669,705 
2,894,412 
22.0 

l7.5 

6.5 




Mileage of loaded freight cars— north or east — 








Mileage of loaded freight cars — south or west 








Mileage of empty freight cars— north or east 








Mileage of empty freight cars— south or west 








Average number of freight cars in train 








Average number of loaded cars in train 






Average number of empty cars in train 

















FREIGHT TRAFFIC MOVEMENT.— State of North Carolina. 



Commodity. 



Products of Agriculture- 

Grain 

Flour 

Other mill products 

Hay 

Tobacco 

Cotton 

Fruit and vegetables 

Melons 

Oranges 



Freight 

Originating 

on this 

Road. 



Whole Tons. 

8,077 
13,984 

2,622 

1,013 
18,617 
25,771 
27,574 

2,100 



Freight 
Received 
from Con 

necting 

Roads and 

other 

Carriers 



Whole Tons 

15,505 

6,101 

12,762 

8,285 

8,269 

6,798 

56,568 

26, 127 

710 



Total 
Freight Tonnage. 



Whole Tons. 
23,582 
20,085 
15,384 
9, 298 
26,886 
32,569 
84, 142 
28,227 
710 



Per Cent 
2.0 
1.9 
1.3 
0.9 
2.5 
2.8 
6.4 
2.5 



WILMINGTON AND WELDON RAILROAD COMPANY. 



91 



FREIGHT TRAFFIC MOVEMENT— Continued. 



Commodity. 



Pkoducts of Animals— 

Live stock 

Dressed meats 

Poultry, game and fish _. 

Wool _ 

». 
Hides and leather 

Products of Mines - 

Anthracite coal 

Bituminous coal 

Ores 

Stone, sand, and other like articles 

Products of Forest— 

Lumber 

Logs _ .. . 

Manufactures— 

Petroleum and other oils 

Sugar 

Naval stores 

Otner castings and machinery 

Bar and sheet metal 

Cement, brick and lime 

Agricultural implements 

Wagons, carriages, tools, etc 

Wines, liquors and beers 

Household goods and furniture 

Fertilizer 

Meichandise 



Miscellaneous : Othercommodities not men- 
tione d above. 



Total tonnage— entire line. 



Freight 

Originating 

on this 

Road. 



Whole Tons. 

2,167 

2,209 

3,887 

3 

470 

3,267 



3,704 

134,002 
257,697 

6,462 

991 

8,819 

1,261 

4,066 

11,365 

85 

1,087 

806 

2,919 

62,580 

7,45?5 

9,574 



624,614 



Freight 
Received 
from Con- 
necting 
Roads and 
other 
Carriers. 



Whole Tons 

7,564 

15, 359 

550 

17 
2,401 

23,411 

112 
2, 162 

108, 130 
?,507 

13,389 

5,261 

4,991 

9,861 

32,906 

5,650 

921 

6,754 

4,573 

3,039 

55,705 

38,489 

27,500 



Total 
Freight Tonnage. 



518,333 



Whole Tons 
9,731 
17,568 
4,437 
20 
2,871 

26, 673 
112 



242, 132 
261,204 

19,801 

6,255 

13, 813 

11,122 

36, 972 

17,015 

1,006 

7,841 

5,379 

5,958 

118,285 

45,924 

37,074 



137,94/ 



Per Cent. 
0.9 
1.5 
0.4 

0.3 
2.4 



0.7 

21.7 
22. 9 

1.9 
0.5 
1.2 
0.9 
.92 
1.5 
0.1 
0.7 
0.5 
0.6 
10.5 
4.1 
3.2 

100.00 



92 



CORPORATION COMMISSION. 



fltlantic Coast Lioe R^ailroad Compaoy of 
South Carolina. 



DIRECTORS. 



Name of Director. 


Post office Address 


Date of Expiration 
or Teim. 




Baltimore Md 


N vember 1900. 


H.Walters 


Ha'timore, Md 


X >vember, 19C0 




Baltimore, Md . 


Novembe'-jlQOO 


W.G.Elliott 


Wilmington, N. C 


November, 1900. 


J J Luc&s 


Snoiety Hill S. C 


Novemb'"^r 1900 


J T. Barron 


Columbia S. C 


V<i vember 1900 


H. B.Sbort — - 










' 



OFFICERS. 

Name. 

C S.Gadsdeo 

H.Walters 

C.C.Olney 

Jas-.F.Post, Jr 

W.A.Riach 

J.R.Kenly 

E. B. Pleasants 

J. F. Divine 

W. N. Royall 

T. H.Syminghan _. 

E. Borden 

F.H.Ftchtig 

T.M. Emerson 

H.M.Emerson — 
Ernest Williams... 

H. M. Emerson 

Ernest Williams— 

W. N. Royall 

G.G.Thomas 



Title. 



Location of Office. 



President 

Vice-President 

Secretary and Treasurer 

Assistant Treasurer 

Auditor, Greneral 

General Manager 

Engineer of Railway 

General Superintendent— 

Superintendent 

Superintendent Motive Power 

Superintendent of Transportation. 

Purchasit g Agent 

Traffic Manager 

General Freight Ageat 

Division Freight Agent 

General Passenger Agent „ 

Division Passenger Agent 

General Agent 

I hief Surgeon 



Charleston, S.C. 
Wilniugt -n,N. C. 
Charleston, S.C. 
Wilmii.gton.N.C. 
Wilmington, N. C 
Wilmington, N.C. 
Wilmingtor , N. C. 
Wilmingt^-n, N.C. 
Charleston, S. C. 
Wilmington, N.C. 
Wilmington, N.C. 
Wilmington, N.C. 
Wilmington, N.C. 
Wilmington, N.C 
Wilmington, N.C. 
Wilmington, N.C. 
Wilmington, N.C. 
Charleston, S.C 
Wilmington, N.C. 



ATLANTIC COAST LINE RAILROAD OF SOUTH CAROLINA. 



93 



PROPERTY OPERATED. 



Name. 


TERMINALS 


Miles 'f 
Line f<ir 
each road 

named. 


Miles cf line 
f.>r each 


From — 


Tu- 


classiofroads 
named. 


A.C.L.of ^.C 


Wilmington, N.C- 


Columbia,S.C 


191.70 




A C L of S C 


Florence,S.C 

Florence, 8. C 


Charleston S. C 


101.70 




A.C.L.of S.C 


Wadesboro, N.C - 


64.52 




A.C.L.of .•^.C 


S. estate Line.— 


PeeDee,S.C 


24.63 




A. C. L. of S. C 


Sumter, S.C 


Denmark, S.C 


64.;^1 





Branches. 




446.86 


Hartsville 


Floyd's 


Haitsville 

Gibson 


10.00 
36.64 




Gibscn 


Darlington 

Latta 

Chadbourn 




Latta 


Clio 


19.78 
50.00 




Conway 


Conway and Hub, 




Pregnall 


Creston ... 


Pregnall . . 


40.81 




Ferguson 

Darlington 


Eutawville 


Ferguson 


6 16 




Sumter 


Darlington 

Lucknow 


37.64 




South and North Carolina—. 


Elliott 


16.48 








217.51 


Spurs to Vlills, etc . 






12.90 


12.99 


Central K, R. f 8. U 


Lanes 


Sumter 


40. 20 


40 20 








T.>taL__ 


717.47 













CAPITAL STOCK. 



Description. 


Number of 

Shares 

'Authorized. 


Par i Total Par 
Value of Value 
Sha-es. Authorizea. 

1 


Total 
Amount 
Ishued and 
Outstand- 
ing 


Capital slock— Common 

Preferred 


30,0C0 
20,000 


$100.00 '$3,000,000.00 
lOO.OO 2,000,000.00 


$-',538,200.00 
1,8S8,000.00 


Total 


50,000 


100.00 1 5,000,000.00 

1 


4,426,200.00 





Description. 


DIVIDENDS DECLARED DURING 
YEAR. 




Rate. 


Amount. 


Capital stock— Common 

Preferred 


2,528,900 at 2 per cent 
2,538,200 at 3 i-er cent 

6 per cent. 


$126,724.00 
113,280.00 


Total 




240,001.00 







94 



N. C. CORPORATION COMMISSION. 



FUNDED DEBT. 
M0RTG.1GE BONDS, MISCELLANEOUS OBLIGATIONS, AND INCOME BONDS. 





TIME 


Amount of 

Authorized 

Issue. 


Amount 
Issued. 


Amount 

Outstanding. 


Cash 

Realized 

on Amount 

Issued. 


Class of Bond or 
Obligation. 


O CD 


Oi CD 


First mortgage 


1898 
1869 
1869 
1883 
1879 
1893 
1888 
1895 

1895 


1948 
1899 
1899 
1933 
1910 
1943 
1988 
1915 

1915 


$8,000,000.00 


S4, 184, 000. 00 
820,000.00 
322,000.00 
694,000.00 
1,600,000.00 
1,108,000.00 
366,000.09 
425,000.00 

250,000.00 


$4,184,000.00 

820,000.00 

322,000.00 

694,000.00 

1,600,000.00 

22,000.00 

7,000.00 


$4,184,000.00 

820,000.00 

322,000.00 

694,000.00 

1,600,000.00 

22,000.00 

7,000.00 


First mortgoge,N.E.R.R.. 
Second mortgage, N.E.R.R 
Cond. mortgage, N. E. R R. 
First mortgage W.C.& A_. 
First mortgage M.& A..__- 

First mortgage C.& D 

First mort. Div. B. M. & A. 















C.& N.R. K.boiid!?. 
First mort. Div. A. C. &D. 






C.& N.R.R. bonds. 
Florence R R 
















Total 




9,769,000.00 


7,649,000.00 


7, 649. 000. 00 












Grand total 


8,000,000.00 


9,769,000.00 


7,619,000.00 


7,649,000.00 









Class of Bond or Obligation. 



First mortgage 

First mortgage, N.E.R.R 

Second mortg!age,N. E. R. R 

Cond. mortgage, N. E.R. R — . 

First mortgage, W. C. & A 

First mortgage, M. & A 

First mortgage, C.& D 

First mort., Div. B. M. & A., C. & N. R. R. bonds. 
First mort., Div. A. C. & D., C. & N. R. R. bonds. 

Florence R. R 

Total -_ 

Grand Total . 



interest 



Rate. 

per 

Cent. 



When 
Payr-bl- 



Jar).& July 
Nov. & Sept 
Nov. & Sept. 
Jan. & July 
Jan. & July 
Jan.& July 
April & Oct. 



Amount 
Accrued Dur- 
ing Year 



Amount 
Paid Dur- 
ing Year. 



$159,440.00 

65,600.00 

25,760.00 

41,640.00 

96,000.00 

1,550.0) 

9,575.00 

8,500.00 

6,250.00 

250.00 



414, 565. 00 



414,565.00 



$159, 
65, 
25, 
41, 
96, 
1, 



440,00 
600.00 
760, 00 
640.00 
000.00 
550. 00 
575. 00 
500.00 
250. 00 
250.00 



414,565.00 



414,565.00 



ATLANTIC COAST LINE RAILROAD OF SOUTH CAROLINA. 95 

RECAPITULATION OP FUNDED DEBT. 



Mortgage bonds— amount issued 

Amount outstandi ng 

Interest— amount paid during year. 



$9,769,000.00 

7,649,000.00 

414,565.00 



CURRENT ASSETS AND LIABILITIES. 



ASSETS. 

Cash 

Due from agents 

Due from solvent companies and individuals . 

Other cash assets 

Total— cash and current assets 

Total 

LTABILITIES 

Audited vouchers and accounts 

Wages and salaries 

Dividends not called for 

Matured interest coupons unpaid 

Miscellaceous 

Total— current liabilities „. 

Balance— cash assets 

Total 



$42,827.04 

32,010.96 

533,64-1.36 

110,637.50 



719,119.86 



719,119.86 



2,889.30 

54, 75]. 50 

134,763.50 

126,965.00 

110,708.94 



430,078.24 
289,011.62 



'19,119. 



RECAPITULATION. 

FOR MILEAGE OWNED. 



ACCOUNT. 


Total 

Amoaut 

Oalstanding. 


Apportion- 
ment to 
Railroads. 


AMOUNT PER MILE OF LINE. 


Miles. 


Amount 


Capital stock 


$4,426,2:0.00 
7,649,000.00 




677.27 

677.27 


6 535 35 


Bonds 




11,' 93.88 








Total 


12,075,200.00 






17,829.23 







COST OF ROAD, EQUIPMENT, AND PERMANENT IMPROVEMENTS. 



Grand total cost construction, equipment, etc., to June 80, 1899 

Total cost construction, equipment, etc., State of North Carolina, to June SO, 1899. 
Cost per mile 



$11,641,712.27 

1,857,634.43 

17, 189. 17 



96 



N. C. CORPORATION COMMISSION. 



INCOME ACCOUNT— Entire Line. 



Gross earnings from operation 


$2,093,524.22 
1,233,634.90 




Less operating expenses 








Income from operation _ _ 




$859,889.32 


Dividends on stoci^s owned . . _ _ 


28,713.82 
5,700.00 
37,219.30 


Interest on bonds owned 




Miscellaneous Income— less expenses 








Income from other sources . .. . 




71,633.12 


Total income __ 




931,522.44 


Deductions from Income— 
Interest on funded debt accrued 


414,565.00 

8,181.60 

31,000.00 

92,731.64 




Interest on interest-bearing current liabilities accrued 








Taxes---__„.. _ _ _.„ __. 








Total deductions from income 




546,478.24 






Net income 


385,044.20 


Dividends, _ per cent, common stock 


126,724.00 
113,280.00 


Dividends per cent preferred stock 








Total 




240,004.00 








Surplus from operations of \ear ending June 30, 1899 


145,010.20 







OPERATING EXPENSES. 



Operating Expenses -Entire Line. 

Maintenance of way and structures 

Maintenance < f equipment 

Conducting transportation 

General expenses 

Grand total 

Percentage of expenses to earnings— Entire Line 

Operating Expenses— State of North Carolina. 

Maintenance ( f way and structures 

Maintenance of equipment 

Conducting transportation 

Genei al ex penses 

Total 

Percentage of expenses to earnings— North Carolina 



$334,55('.29 

210,037.53 

622,145.51 

66,901.57 

1,233,634.90 

58.9 

50,182.54 
31,505.63 
93,821.83 
10,035.24 



185,045.24 
58.9 



RENTALS PAID. 

A. RENTS PAID FOR LEASE OP ROAD. 
Central Railroad of South Carolina _ 



$31,000.00 



ATLANTIC COAST LINE RAILROAD OF SOUTH CAEOLINA. 



97 



EARNINGS PROM OPERATION— State of North Carolina. 



Item. 


Total 
Receipts. 


Deductions, 

Ace )unt of 

Repayments, 

etc. 


Actual 
Earnings. 


Passenger— 

Total passenger revenue 






$134,851.33 


Mail . 






111,691.17 


Express _ - _ _ — 






45,394.69 
6,593.63 


Extra baggige and storage . 







Total passenger earnings 


598, 530. 82 


Freight— 

Total freight revenue 






1,421,880.86 










Total freight earnings 


1,421,880.86 












2,020,411.08 
4,221.96 


Other Earnings from Operation— 






Rents from tracks, yards and terminals _ __ 




• 


17,056.20 


OLher sources __ _ _ 






51,8)4.38 










Total other earnings _ 


7:{, 112.54 












314,028. fJ3 


Total gross earnings from operation— Entire line 






2,093,524.22 











STOCKS OWNED. 
A RAIL .V AY STOCKS. 



Name. 


Total 
Par Value 


Income 

or Dividend 

Received. 


ValUHlioa. 


Wilmington Railway Bridge 

Columbia, Nfcwbeiry and Laurens Railroad 


$10,000.00 
10,002.00 


$6,318.78 


$0,000.00 
10,0 '2.00 


Toial 


20,002.00 


6,318.78 


20,002.00 





B OTHER 8T0CKS. 



Name. 



Atlantic Coast Line Sleepiag-Car Trust 

Richland Cotton Mills 

Total 

Grand total— A and B 

• 2 7 



Total 
Par Value. 



$100,123.09 
1,000.00 



101, 123. 



121,125.09 



Income 

or Dividend 

Received. 



$22,395.01 



22,395.01 



5,713.82 



$100,12:^.09 
1,000.00 



10!, 12;;. 09 
121,125.09 



98 



N. C. CORPORATION COMMISSION. 



BONDS OWNED. 
EIA.ILWAY BONDS 



Name. 


Total 
Par Value. 


Income 
or interest 
Received. 


Valuation 


Atlantic Coast Line Company of South Carolina—. 
Northeastern Railroad 


$90,000.00 
37,0C0.00 


$4,050.00 
1,110.00 


$90,000.00 
37 000 00 






Total -- 


127,000.00 


5,160.00 ! 127,000.00 

1 



B. OTBER BONDS. 



JSame. 


Total 
Par Value. 


Incon e 
or Interest 
Received. 


Valuation. 


South Carolina State 


S16, 000.00 


$540.00 


$16 000 00 






Total 


16,000.00 540.00 


16,000.00 


Grand total— A and B .- _.. _ . 


143,000.00 5, TOO. 00 143,000.00 





RENTALS RECEIVED. 
Terminal?— Charleston, C.& S. Railway _— 



$17,056.20 



MISCELLANEOUS INCOME. 



Item 



I Net 

Miscellaneous 
Income. 



Rent of rails 

Current interest, etc 
Total 



$8,818.90 
28, 400. 40 
37,219.30 



EMPLOYEES AND SALARIES 



Class. 



General administration 

Maintenance of way and structures 

Maintenance of equipment 

Conducting transportation 

Total (including "General Officers ")—N.C 



Number. 



Total 
Number 
of Daa s 
Worked. 



100 36,600 

634 ; 202,048 

233 72,696 

610 ; 209,661 



1,577 



520, 305 



Total Yearly 
Compensa- 
tion. 



$38,95S.61 
161,467.40 
104,463.12 
810,007.52 
617,896.65 



Average 

Daily 

Com pen- 

sation. 



$1.07 

.81 

1.43 

1.48 

1.18 



ATLANTIC COAST LINE RAILROAD OF SOUTH CAROLINA. 



PASSENGER AND FREIGHT, AND TRAIN MILEAGE— Entire Line. 



Item. 



Fassenger Traffic— 

Number of passengers carried earning revenue 

Number of passengers carried one mile 

Number of passengers carried one mile per mile of road. 

Average distance carried 

Total passenger revenue 

Average amount received from each passenger 

Average receipts per passenger per mile 

Total passenger earnings 

Passenger earning? per mile of road 

Pasf.eoger earnings per train mile 

Freight Fraffic— 

Number of tons carried of freight earning revenue 

i^umberof tors carried one mile 

Number of tons carried one mile per mile of road 

Average distance haul of one ton 

Total freight revenue 

Average amount received for each ton of freight 

Average receipts per ton per mile 

Total freight earnings 

Freight earnings per mile of road 

Freight earnings per train mile . 

Passenger and Freight— 

Passenger and freight revenue 

Passenger and freight revenue per mile of road 

Passenger and freight earnings „ 

Passenger and freight earnings per mile of read 

Gross earnings from operatlon._„ 

Gross earnings from operation per mile of road 

Gross earnings fjom operation per train mile 

Operating expenses 

Operating expenses per mile of road 

Operating expenses per train mile 

Income from operation 

Income from operation per naile of road 



Column for 

Tonnage, 

No Passen- 

gerp, No. 

Trains, 

Mileage, 

No. Cars. 



Columns for Revenue 
and Rate«. 



Dollars. 



426,291 

22,685,206 

31,618 

53 



Cents 



926,048 

, 158, 679 

122,874 

95 



$434,851 

1 



5,530 
834 



1,421,880 

1 



1,421,880 
1,981 

1 

1,8.56,732 

2,587 
2,020,411 

2,816 
2,093,524 

2,917 

1 

1,233,634 

1,719 



859,1 
1, 



22 



79 



88 





68 




02 




22 




92 




39 


400 


90 




42 





82 


100 


32 





50 






100 



N. C. CORPORATION COMMISSION. 



PASSENGER AND FREIGHT, AND TRAIN MILEAGE— Continued. 



Item. 


Column for 
Tonnage, 

No. Passen 

gers. No. 

Trains, 

Mileage, 

No. Cars. 


Columns for Revenue 
and Rates. 


Train Mileage — 


723,964 
677,381 
100, 458 


Dollars. 


Cents 


Mills 


Miles run by freight trains 




Miles run by mixed trains 






' 


Total mileage train? earning revenue 


1,501,809 
262,896 
41,161 








Miles run by switching trains 














1,808,866 

5,861,544 

4,101,069 

1,795,428 

3,878,594 

20.1 

13.2 

6.9 






Mileage of loaded freight cars— north or east _ 




Mileage of loaded freight cars— south or west 




1 
1 


Mileage of empty freight cars— north or east 








Mileage of ehapty freight cars— south or west 






Avera°"e number of freight cars in train 




.... 

i 


Average number of loaded cars in train 

Average number of empty cars in train..^ . _ 


















1 



COMPARATIVE GENERAL BALANCE SHEET. 



June 30, 1898. 


ASSETS. 


YEAR ENDING JUNE 


10 1899. 


Total. 


Item. 


Increase. 


Decrease. 






$11,641,712.27 

121,125.09 

143,000.00 

25, 361. 22 

719,119.86 

12,fi50,318.44 


































Other permanent investments 








Cash and current assets ~ 








Grand total 













LIABILITIES. 






4,426,200 00 

7,649,000.00 

430,078.24 

145,040.20 

12,650,318.44 

















Current liabilities 






Profit and loss 

Grand total 



















NORFOLK AND CAROLINA RAILROAD COMPANY. 



101 



NorfoIK and Carolina Railroad Company. 



DIRECTORS. 



Name of Director. 


Post-office Address. 


Date of Expiration 
of Term. 


H Walters 


Wilmington N.C 




B. F. Newcomer 


Baltimore, Md 

Baltimore, Md 

Baltimore, Md 

New York N. Y 


Third Monday in No- 




vember, 1899, and 
until their succes- 




sors are elected. 


Samuel Spencer 




C. W. Grandy 


Noifolk, Va 











OFFICERS. 



Title. 


Name 


Location of Office. 


President 


W.G.Elliott . 


Wilmington, N.C. 
Wilmington, N.C. 


Vice-President 


H.Walters 


Secretary 


C.G.Elliott. 


Norfolk, Va 


Treasurer 


C.G.Elliott 


Norfolk, Va. 


Auditor, General 

Assistant Auditor 


W.A.Riach 


Wilmington, N.C. 


General Manager 


G. M. Serpen 

E. B. Pleasants 

J.R.Kenly 


Noifolk Va. 


Engineer Roadway 


Wilmington, N.C. 
Wilmington, N.C. 
Wilmington, N.C. 
Wilmington, N.C. 


Superintendent Transportation 


General Freight Agent 


T.M.Emerson 


General Passenger Agent 


T.M.Emerson ___ 







102 



N. C. CORPORATION COMMISSION. 



PROPERTY OPERATED. 



NAME. 


TERMINALS. 


Miles of 

Line for 

Each 

Road 

Named 


Miles of 
Line for 

Each 
Class of 




From— 


To- 


Roads 
Named. 




Pinner's Poiat, Va 
Bruce, Va 


Tarboro, N.O 

Pig Pt and Belleville, Va- 

Bennett'.s Pasture, Va 

S.&R. R.R., Va 


100. -19 
6.53 
1.55 
1.13 
1.63 


100.49 


Pig Point Branch. _._.__ 




Benneti'iS Pasture Branch - 
To S. & R. R R 


Drivers 

Armiste9(i, Va 





Spursto Mills and Factories 








10.84 






Total . 


. 111.3,^ 








i 



CAPITAL STOCK. 



DESCRIPTION. 



Capital stock— com !i on 



Number of 

Shares 
A.uthorlzed. 



25,000 



Par 

Value of 
Shares. 



Total Par 

Value 

Authorized. 



Total 

Amount 

Issued and 

Outstand 

log 



DIVIDENDS DE- 
CLARED DURING 
YEAR. 



Rate. 



$100 . 00 $2, 500, 000. 00 $2 , 500, 000. 00 | 7 per ct. $ 175, 000. 00 



Amount. 



MANNER OF PAYMENT F JR CAPITAL 
STOCK. 



Issued for cash— common 

Issued for construction- common 
Total 



Number of 
>^hares Issued 
During Year. 



Cash Real- 
ized on 
Amouut I-s- 
suert During 
Year. 



r )tal Nutn 
ber Shares 
I>isued and 

Outstanding. 



550 
24, 450 



25,000 



Total Cash 
Realized. 



$55,000.00 



COST OP ROAD, EQUIPMENT, AND PERMANENT IMPROVEMENTS. 



Total cost equipment to June 80, 1898 

Total cf>st equipment to June 30, 1899 

Total cost equipment per mile 

Total cost construction to June 30, 1898 

Total cost construction to June 31, 1899 

Total cost construction per mile 

Grand total cost construction, equipment, etc., to June 30, 1898 
Grand total cost construction, equipment, etc., to June 30, 1899., 
Grand total cost per mile 



$527,146.81 

527,146.81 

4,734.99 

3,745.090.60 

3,745,090.60 

33,639.55 

4,272,537.41 

4,272,237.41 

38,374.54 



NORFOLK AND CAROLINA RAILROAD COMPANY. 



103 



FUNDED DEBT. 
MORTaVGE BONDS, MISCELLANEOUS OBLIGATIONS, AND INCOME BONDS. 



CLASS OF BOND OR 
OBLIGATION, 



First mortgage 

SecoDd mortgage 

Total— mortgage bonds . 



fi" 



1889 
Jrru 



1^ 



ril 

1939 
arv 1 

1946 



Amount ot 

Authorized 

I^sue. 



$1,500,000.00 
500,000.00 



2,000,000.00 



Amount 
Issued. 



$1,320,000.00 
400,000.00 



Amount 
Outstanding. 



,320,000.00 
400, 000. 00 



1,720,000.00 1,720,000.00 



Cash Real- 
ized on 

Amount 
Issued. 



$360,000.00 

3t;o, 000.00 



INTEREST. 



CLASS OF BOND OR OBLIGATION. 



First mortgage 

Second mortgage 

Total— mortgage bonds . 



Rale 

r-er 

Cent. 



When 
Payable. 



Amount 

AGcru-^d 

During Year. 



A.priland Oct. 
Jan. and July. 



$66,000.00 
20,000.00 
86,000.(0 



Amount 
Paid Dar- 
ing Year. 



$66,000.00 
20,000.90 
86,000.00 



RECAPITULATION OF FUNDED DEBT. 



Mortg!3ge bonds— amount issued 

Amount outstanding 

loterest— amount accrued during year 
Amount paid during year 



$1,720,000.00 

I, 720, 000. CO 

86,000.00 

86,000.00 



INCOME ACCOUNT.— Entire Line, 





$707,851.38 
398,344.69 




Less operating expenses 




$309,506.69 
10,938.27 










Total income . . _ _. ___ . _... 


320,439.96 


Deductions from Income— 




Intere!«toD funded debt accrued _. 


86,000.00 




Taxes.-. - 


18,517.03 








Total deductions from income 


-. 


10^,517.03 






Net income 


215,922.93 


Dividends, 7 per cent, common stock — 




175,000.00 








Surplus from operation of year ending June 30, 1899 


40,922.93 

188,797.30 


Surplus on June 30, 1898 [from " General Balance Sheet," 1898 
Report]. 






Surplus on June 30, 1899 [for entry on "General Balance Sheet"] 




229,720.23 







104 



N. C. CORPORATION COMMISSION. 



RECAPITULATION. 

A. FOR MILEAGE OWNED. 



ACCOUNT. 


T.-tal 

Amount 

Outstanding. 


Apportion- 
ment to 
Railroads. 


AMOUNT PER MILE OF LINE. 




Miles. 


Amouat. 


Capital Stock 


$2,500,000.00 
], 72'', 000. CO 




111.33 


$22,455.00 
15,450.00 


Bonds 










Total „ 


4,220,000.09 


$4,220,000.00 




87,905.00 







EARNINGS FROM OPERATION.— Entire Line. 



Item. 



Total 
Receipts. 



Passenger— 

Passenger revenue 

Total deduction? 

Total passenger revenue 

Mail 

Express 

Extra baggage and storage 

Other items 

Total passenger earnings 

Freight— 

Freight revenue 

Total deductions 

Total freight revenue 

Other items 

Total freight earnings 

Total passenger and freight earnings . 
Other Earnings from Operation— 

Switching charges— balance 

Telegraph companies 

Rents from tracks, yards, and terminals- 
Other sources 

Tqtal other earnings 

Total gross earnings from operation „ 



$84,344.19 



503,260.11 



Deductions, 

■\ccount rf 

Repay mei;ts, 

etc. 



$221.79 



4,640.45 



Actual 
Earnings. 



$8 J, 122.40 

9,801.04 

4,253.00 

885.65 

99.96 

99,162.05 



498,619.66 
5,116.67 



503,736.33 



602, 898. 38 

601.00 

326. 64 

47,935.00 

56,090.86 

104,953.00 

707,851.38 



NORFOLK AND CAROLINA RAILROAD COMPANY. 



105 



CURRENT ASSETS AND LIABILITIES. 



Cash 



Bills receivable 

Due from agents 

Due from solvent companies and individuals-. 

Net traffic balance^ due from other companies. 

Cash deposited to pay coupons 

Total— cash and current assets 

Tot il 

LIABILITIES. 

Audited vouchers and accounts .— 

Wages and salaries 

Dividends not called for due July 3d 

MatuKd interest coupons unpaid 

Total— current liabilities 

Balance— cash fissets 

Total 



U7,204.4t) 


],C00.0O 


18,137.17 


311,863.47 


20,899.39 


11,175.00 


880,279.49 
;^80,279.49 


91,658.72 


1H,662.95 


87,500.00 


11,175. CO 


208,996.67 


171,282.82 


38\279.49 



STOCKS OWNED. 
RAILWAY STOCKS. 



Noifolli and 1 ortsmouth Belt Line Railway Co.— total par value 
Valuation 



$6,2(0.00 
6,200.00 



RENTALS RECEIVED. 



Tracks — Pinner's Point, Va., to Tarboro, N. C , Southern Railway Company. 

Terminals— Pinner's Point, Va., Southern Railway Ct>mpany 

Grand total rents received 



;35,9:i5.00 
12,000.00 



935.00 



MISCELLANEOUS INCOME. 



Income — interest, rents, etc 



$10,933.27 



OPERATING EXPENSES. 



Maintenance of way and structures 

Maintenance of equipmeiit 

Conducting transportation 

General expenses 

Grand total 

Percentage of operating expenses to earnings. 



$10'), 765. 94 
6.S, 849. 25 
20-l,.)84.75 
2^,144.75 



398,344. 



56 



106 



N. C. CORPORATION COMMISSION. 



PASSENGER AND FREIGHT, AND TRAIN' MILEAGE.— Entire Line. 



Item. 



Passenger Traffic— 

Number of passengers carried earning revenue 

Number of passengers carried one mile 

Number of passengers carried one mile per mile of road. 

Average distance carried 

Total passenger revenue . 

Average amount received from each passenger 

Average receipts per passenger per mile 

Total passenger earnings „ 

Passenger earnings per mile of road 

Passenger ea»^nings per train mile 

Freight Traffic— 

Number of tons carric-d of freight earning revenue 

Number of tons carried one mile 

Number of tons carried one mile per mile of road 

Average distance haul of one ton 

Total freight revenue 

Average amount received for each ton of freight 

Average receipts per ton per mile 

Total freight earnings 

Freight earnings per mile of road 

Freight earnings per train mile 

Passenger and Freight— 

Passenger and fiCight revenue 

Passenger and freight revenue per ir ile of road 

Passenger and freight earnings 

Passenger and freight earnings per mile of road 

Gross earnings from operation 

Gross earnings from operation per mile of road 

Gross earnings from operation per train mile _ 

Operating expenses 

Operating expenses per mile of road 

Operating expenses per train mile 

iDcome from operation 

Income from operation per mile of road 



rn lumn for 

Tonnasie, 
No Passen- 
gers, No. 
Trains 
Mileage, 
No. Cars. 



Columns for Revenue 
and Rales. 



Dollars. 



90,244 

3,271,430 

20,385 

36. 25 



587,302 

42,394,543 

380, 800 

72.19 



$S4, i; 



99,162 

8'.0 



498,619 



503,736 
4,524 

2 

582,742 

5,234 
602, 898 

5,415 
71,7,851 

6,351 

1 

398, 344 

3,578 

1 

309,506 

2,7b0 



Cents 



NORFOLK AND CAROLINA RAILROAD COMPANY. 



107 



PASSENGER AND FREIGHT, AND TRAIN MILEAGE— Continued. 



Item. 


Column for 
Tonnage, 

No. Passen- 
gers, No. 
Trains, 
Miieag--, 
No. Cars. 


Columns f >r Revenue 
and Rates. 


Train Mileage— 

Miles run by passenger trains . - 

Miles run by freight trains _ _ _ 


188, 662 

240, 635 

379, 297 

57,935 

23,193 


Dollars. 


Cents 


Mills. 


Total mileage trains earning revenue 









Miles run by switching trains 




Miles run by construction and. other trains 














Grand total train mileage 


469,425 




Mileage of loaded freight car3--north or east 

Mileage of loaded freight cars — south or west 


3, 454, 608 








1,278,154 
320,460 

2, 589, 426 
31.8 
19.7 
12.1 








Mileage of empty freight cars — north or east 








Mileage of empty freight cars — south or west 








Average number of freight cars in train 








Average number of loaded cars in train 








A vfij^.gp. nnmhfir nf fimpty f.ii.rs in train 

















EMPLOYEES AND SALARIES. 



Class. 


Number. 


Total 
Number 
of Days 
Worked. 


Total A^l^ff 

Yearly Com- pir j!Jn- 

pensation. Compen 


Oeneral administration . ._ 


26 
181 

25 
347 


8,190 

52, 630 

6,378 

102, 158 


$22,959.96 $3.05 

44,531.76 .85 

9,528.00 1.50 

148,411.88 1.45 


Maintenance of way and structures 


Maintenance of equipment 


Conducting transportation 




Total (including " General officers")-- 


579 


169,351 


226,431.60 j 1.33 



108 



N. C. CORPORATION COMMISSION. 



COMPARATIVE GENERAL BALANCE SHEET. 



JUNK 30,1898. 


ASSETS. 


YEAR ENDING JUNE 30,1899. 


Total. 


Total. 


Increase. Decrease. 


83,745,090.60 

537,146.81 

6,200.00 

236,201.36 


Ccst of road 

Cost of equipment 


$3,745,090.60 

527, 146. 81 

6, COO. 00 

380,279.49 




1 






Cash and current assets 

Grand total 


$144,078.13 






4,614,638.77 


4,658,716.90 


144,078.13 




LIABILITIES. 

Capital stock 




2,500,000.00 

1,720,000.00 

105,841.47 

188,797.30 


2,500,COO.OO 

1.720,000.00 

208,996.67 

229,720.23 






Funded debt 


. 


- 


Current liabilities 


103,155.20 
40,922.93 




Profit and loss 






Grand total 




4,514,638.77 


4,658,716.90 


144,078.13 









SEABOARD AIR LINE SYSTEM. 



109 



SEABOARD AIR LINE SYSTEM, 



LINES CONTROLLED AND OPERATED IN NORTH CAROLINA. 



Name. 



Carolina Central Railroad 

Durham and Northern Railway 

Georgia, Carolina and Northern. Railway 

Pittsboro Railroad _ _ 

Raleigh and Augusta Aif Line Railroad 

Raleigh and Gaston Railroad 

Roanoke Rapids Branch 

Louisburg 

Roanoke and Tar River Railroad 

Seaboard and Roanoke Railroad . 

Palmetto Railroad 

Wilmington Railway Bridge Company 

Total length of all lines, Seab:)ard Air Line System, in Xortti Caroliua- 



Mlles. 



273.43 
41.40 
14. 30 
11.20 

106.78 
96.20 
2.54 
10.(0 
32. 30 
18.40 
7.00 
2.40 

615.90 



DIRECTORS. 



Name of Director. 



Post-office Address. 



J.S.Williams ■ Richmond, Va.. 

i 
J. W. Midden dorf j Baltimore, Md._. 

W.H. Blackwood i Baltimore, Md— 

! 
W.A.Marburg . New York,N.Y 

W.C.Stronach . Raleigh, N.C — . 

W.W. Fuller [ New York,N.Y. 



Date of Espiration of Term. 



November 9,1899. 
November 9,1899. 
November 9,1899. 
November 9, 1899. 
November 9,1899. 
November 9, 1899. 



110 



N. C. CORPORATION COMMISSION. 



OFFICERS. 



Title. 



Name. 



Location of Office. 



Chairman of the Board 

President 

First Vice President 

Secretary 

Treasurer 

Attorney, or General Counsel 

Comptroller _. 

Auditor 

Auditor— Disbursements 

Auditor— Receipts 

General Manager 

Chief Engineer 

General Superintendent 

Divislf n ."superintendent 

Superintendent of Telegraph 

Traffic Manager 

General Freight Agent 

Assistant General Freight Agent 
General Passenger Agent 



J.Skelton Williams 
J.Skelton Williams 

E.St. John 

J. M. Sherwood 

J. IT. Sharp 

L.R. Watts 

W.W. Chamberlain . 

J. B. Martin 

J. A. Walton 

J. M.Sherwood 

E.St. John 

W. W.Gwathney — . 

V.E.McBee 

T. W.Whisnant 

W. F. Williams 

H.W.B. Glover 

C. B.Capps 

R. I. Cheatham 

L.S.Allen 



Richmond, Va. 
Richm( nd, Va. 
Portsmcuth, Va. 
Portsnaouth, Va. 
Portsmouth, Va. 
Portsmouth, Va. 
Poitsmoutb, Va. 
Portsmouth, Va. 
Portsmouth, Va. 
Portsmouth , Va . 
Portsmouth, V». 
Portsmouth, Va. 
Porismouih, Va. 
Portsmouth, Va. 
Portsmouth, Va. 
Portsmouth, Va. 
Portsmouth, Va. 
Atlanta, Ga. 
Portsmouth, Va. 



I^aleigh and Gaston Railroad Connpany. 



PROPERTY OPERATED. 



NAME. 


TERMINALS. 


Miles of 

Line for 

each Road 

Named. 


Miles of 
Li ne for 
ch Class 




From— 


To— 


ea Roads 
'^famed. 

N 


1 A. R.& G. R. R.Co 


Raleigh, N.C 

Roanoke June 

Franklinton,N. C- 


Weld(n,N.C 

Roanoke Rapids 

Louisburg, N.C 


96.20 
2.54 
10.00 




B. Roanoke Rapids Br_.- 
4 Louisburg Railroad. _- 


98.74 
10.00 








Total 


108. 74 













RALEIGH AND GASTON RAILROAD COMPANY 



111 



CAPITAL STOCK. 



DESCRIPTION 


Number r f 

Shares 
Authorized, 


Par 

Value of 
Shares. 


Total Par 
Value Au- 
thorized. 


T< 
Anr 

Issue 

Outs 

i 


1 

^4oi DIVIDENDS DB- 
H,unt ! CLARED DURING 

d and ^^^^ 




'^ ! Rate. 


Amount. 


Capital stock— common _ 


15,000 


$]00.00 


$1,500,000.00 


« 1,500 


000.00 








Total — 


15,000 


100.00 


1,500,000.00 


1,500 


000.00 j 










Manner of Paymenl for Capital Stock. 


Total Num- 
ber Shares 
Issued atjd 
Outstanding. 




Total Cash 
Realized. 


Issued for reorganization- 


— comTion 




15,000 


fl;i .^nn nnn nn 








Total - - -- -- --- 


15,000 1,500,000.00 















RECAPITULATION OF FUNDED DEBT. 



Class of debt— mortgage bonds — amount issued 

Amount outstanding 

Interest — amount accrued during year 

Amount paid during year 



$1,200,000.00 

l,200,OCO.0O 

60,000.00 

60,000.00 



CURRENT ASSETS AND LIABILITIES. 



ASSETS. 

Cash 

Bil's receivable — 

Due frcm solvt-nt companies and individuals 

Net traflSc balances due from other companif s 

Total— cash and current a<?sets 

LIABILITIES. 

Loans and bills payable 

Audited vouchers and accounts 

Wages and saaries 

Total current liabilities 

Balance — cash assets 

Total 

Materials and supplies on hand, $75,868. 13 



$3, (J87. 32 

162, f 89. 07 

1,9-'8,517.80 

11,800.-18 



2,100,01)4.67 

A5, 107.77 

171,185.78 

39,726.15 

266, '09.70 

1,839,981.97 

2, lot), 094. 67 



112 



N. C. CORPORATION COMMISSION. 



FUNDED DEBT. 
MORTGAGE BONDS. MISCELL A>JEOUS OBLIGATIONS, AND INCOME BONDS. 





TIME. 


Amount of 

Authorized 

Iss-ue. 


Amount 
Issued 


Arcount 
Outstanding. 


Cash Real- 


CLASS OF BOND OR 
OBLIGATION. 




a • 


ized on 
Amount 
Issued 


First mortgage 


1897 


1947 


^1,500,000.00 


$1,200,000.00 


$1,200,000.00 $1,150,980.00 









INTEREST. 




CLASS OF BOND OB OBLIGATION. 


Rate 

Per 

Cent 


When 
Payable. 


Amount Ac- 
crued During 
Year. 


Amount 
Paid Dur- 
ring Year. 


First njoitgage 


5 


Jan. & July. 


$75,000.00 


$75,000.00 





FUNDED DEBT. 
EQUIPMENT TRUST OBLIGATIONS. A. GENERAL STATEMENT. 



Series or Other Designation 



Date Of 
Issu<-. 



I No. of 
Term, j Pay- 
ments. 



Equipment Covered. 



S. A. L. equipment— Series A 

S. A. L. equipment— Series B 

S. A. L.car trust— Series B_— 
S. A. L. car trust— Series C— 
S. A. L.car trust--Series D... 



Jan. 1,1890 

Jan. 1,1891 

Apr. 1,1895 
Apr. 1,1896 
Nov. 1,1897 



Years. 
10 



11 locomotives, 10 superintendent ca*", 
3 M.B. & E.cars, 15 cabi> -^e, 4 ^ec- 
on<i classpasserij^ercar^,4firs.tclass 
passenger cars, 200 box 

4 ^■hifting locomotives, 4 freight loco- 
motives, 4 passenger loc"motives, 3 
pas>euget cars, 5 first class passen- 
ger ears, 200 box 25 coal. 

12 passenger and freight locomotives 
12 locomotive-', 175 box, 100 flats. 

5 freight locomotives, 2 shifting loco 
motives, 350 box, 150 fl4,ls. 



B. STATEMENT OF AMOUNT. 





DEFERRED PAYMENTS- 
PRINCIPAL. 


DEFERRED PAYMENTS— 
INTEREST. 


SERIES OR OTHER 
DESIGNATION. 


Original 
Amuunt. 


Amount 

Outstat d 

ing. 


Original 
Am^iunt 


Amount 

Accrued 

During 

Year 


Amount 
Paid • 
During 
Year. 


Rate, 

Per 

Cent. 


1^ Series A— S. \. L. equipment 
3^ Series B— S. A.L. equipment 
% S. A. L.car trust— Series B— 
% S. A. L.car trust— Series C — 
>^S. A. L.car trust— Series D... 


$12", 000.00 

125,000.00 

36, 666. 66 

8-^,333.33 

100,000.00 

469,999.99 


$12,500.00 
25,000.00 
22,000.00 
58,333.33 
95,000.00 

212,833.33 


$6,250.00 
6,250.00 
1,833.33 
4,166.66 
5,000.00 


$1,250.00 
1,875.00 
1,283.33 
3,333.31 
4,875.00 


$1,250.00 
1,875.00 
1,283. •■.3 
3,.S33.34 
4,875.00 


5 
5 
5 
5 
5 


Total 


23,499.99 


12,616.67 


12,616.67 









RALEIGH AND GASTON EAILROAD COMPANY. 



113 



KECAPITULA.TION. 
A. FOR MILEAGE OWNED. 





Total Amount 
Oats landing. 


Apportion mfnt 
to Railroads. 


AMOUNT PER MILE OF LINE. 




Mile.^. 


Amount. 


Capital stock 


$1,500,000.00 

1,200,000.00 

212,8^3.33 


$1,500,000.00 

1,200,000.00 

212,833.33 


98.74 
98.74 
98.74 


$15, 191.00 


Bonds — 

Equipment trust obligations __. 


12,153.00 
2,156.00 


Total 


2,912,838.33 


2,912.833.33 


98.74 


19,500.00 



B. FOR MILEAGE OPERATED. 



NAME OF ROAD. 


Capital 
Stock. 


Fundf-d 
Debt. 


Total. 


A3IOUNT PER MILE 
OF LINK. 




Miles. 


Amount. 


Raleigh and Gaston Railroad Ct> — 


$1,500,000.00 


$1,200,000.00 


$2,700,000.00 


108.74 


$24,830.00 



COST OF ROAD, EQUIPMEJfT, AND PERMANENT INPROVEMENTS. 



U- m. 


Expenditures 
During Year. 


Total Cost to 
June 10,1898. 


Total C'rst to 
June 30, 1899. 


Cost Per 
Mile. 


Construction— 
Track laying and surfacing - _. . 


$251. 70 

],]77.50 

37,752,75 

842. 95 








Station buildings and fixtures 








Shop*, round houses and turn tables.. 








Water stations _. .__ _ 








Fuel stations 48.04 


















Total construction .__ _ _ 


35,935.96 


$1,611,776.95 


$1,575,840.99 








Equipment— 
Freight cars _. . ..-._ 


182,89 












Total equipment 


182.89 
35,935.96 


94. 570. 98 
1,611,776.95 


91,388.09 
1,575,840.99 


i955 93 


Total construction 


15,959.49 




Grand total cost construction, equip- 
ment, etc. 


36,118.85 


1,706,347.93 


1,670,229.08 


16,915.42 



114 



N. C. CORPORATION COMMISSION. 



INCOME ACCOUNT. 



Gross earnings from operation 

Less operating expenses 

Income from operation _. 

Dividends on stocks owned 

Interest in bonds owned 

Miscellaneous income— less expenses 

Income from other sources 

Total inc >me 

Deductions from Income— 

Interest on Junded debt acciued 

Interest on interest bearing current liabilities. 

Interest on equipment and car-trust bonds 

Rents paid for lease of road. 

Taxes 

Principal in !S. A. L. equipment and car trusts. 



Other deductions $172.90— loss in fuel, lessees G.C.and N.Joss 
in fuel, $214. 74. 

Total deductions from income 

Net Income 

Surplus from operations of year ending June 30, 1899 



Sr/rplus on June 30,1898 [from "General Balance Sheet," 
Report] 



Deductions for year . 

Surplus on JuneSO, 1899 [for entry on " General Balance Sheet"]. 



$720, 950. 61 
421,493.16 



8,230.00 
2,000.00 

68,074.88 



60,000.00 

2,802.42 

12,616.67 

162,128.86 

21,253.36 

23,500.(0 

386. 83 



$299, 457. 45 



,88 



377. 762. 33 



282,688.14 
95,074.19 



95,074.19 


1,426,299.19 


1,521,373.38 


38'>,0 3.08 



1,141,350.30 



STOCKS OWNED. 
RAILWAY STOCKS. 



Name. 


Total Par 
Value. 


Income 

or Dividends 

Received. 


Valuation. 


Richmond, Fredericksburg and P.R. R.Co 




$560.00 
3,000.00 
4,670.00 








SeaboHrd ai^d Roanoke R P Co 




Leg. and Lan. R. R. Co 

Total 


§10,000.00 


$10,000.00 


10,000.00 


8,230.00 


10, 000. CO 



BONDS OWNED. 
Name— C. C. Railroad Co., income or interest received 



$2,000.00 



RALEIGH AND GASTON RAILROAD COMPANY. 



115 



EARNINGS PROM OPERATION. 



Item. 



Passengee— 

Passenger revenue 

Less repayments — 

Tickets redeem ed 

Excess fares refunded 

Total deductions -. 

Total passenger revenue 

Mail 

Express 

Extra baggage and storage 

Other items— News Co 

Total passenger earnings 

Freight— 

Freight revenue 

Less repayments- 
Overcharge to shippers 

Other repayments 

Total deductions 

Total freight revenue 

Total freight earnings 

Total pas^ienger and freight earnings 
Other Earnings from Operation— 

Car mileage — balance 

Hire of equipment— balance 

Telegraph com panics 

Rents not otherwise provided for 

Other sources — accouat insurance 

Demurrage 

Total other earnings 



Total 
Receipts. 



$153,997.06 



477,872.98 



Deductions, 

Account of 

Repay ments, 

etc. 



$391.13 
304.01 



69>.14 



4, 50.'. 34 
27,241.56 



31,743.90 



Actual 
Earnings. 



$153,301.92 

15,538.01 

10,529.39 

1,159.31 

282.48 



180,811.11 



4)6,1.9.08 



44li, 1.9.08 



Total gross earnings from operation- 
North Carolina. 



626,910.19 

3!, 129. .59 

5J,2".3.09 

1,577.09 

5,571.48 

'J. 57 

473.00 

91,010.42 

720,950.61 



116 



N. C. CORPORATION COMMISSION. 



MISCELLANEOUS INCOME. 

Gros? income— outside lents 

Interest recei ved 

Half receipts for lessees G.C.& N 

Total 



SI, 750. 00 

1,861.57 

i>4,96.^.3l 



1)8,074.88 



OPERATING EXPENSES. 

Maintenar ce of way and structures 

Maintenance of equipirent 

Conducting transportation 

General expenses 

Total 

Percentage of expenses to earnings— North Carolina 



?5,><, 378.71 


J. 32,309. 83 


199,008.47 


HI, 796. 15 


^-' 1,493. 16 



58.5 



COMPARATIVE GENERAL BALANCE SHEET. 



June 30, 1898. 




JUNE 30, 1899 


YEAR ENDING JU> E 30, 1899. 


Item. 




Item. 


Increase. 


Decrease. 


$1,611,776.95 
94,570.98 




§1,575,840.99 
94,;^8.09 




$35,935.96 
J 8'-* 89 


Cost of equipment 




1,418,625.00 
550,791.08 


Stocks owned . 


10,000.00 




1,408,625.00 
550, 7H 1.08 


Bonds owned. -„ 






66,165.05 


Other permanent investments 


78,398.17 


$12,233.12 




529 709 37 




2,106,094. 7 








OTHER ASSETS. 


■ 




148,450.56 


Equipment trusts 


166,869.95 


18,419.39 




163, 929. 17 


Materials and supplies. . . 


75,5.68.13 




88, OH '.04 


Grand total 


4,584,018.16 


4,107,460.00 





476 558 IH 


LIABILITIES. 












1,500,000.00 

1,200,000.00 

45^718.97 

1,426,299.19 


Capital stock 


1,-^00,000.00 

1,200,000.00 

266,109.70 

',141,350.30 






Funded debt 






Current liabilities 




191 609 '■•" 


Profit and loss , 




284 9i8 89 


Grand total 






4,584,018.16 


4,107,460.00 




476, 5 jS. 16 







kalp:igh and gaston railroad company. 



117 



PASSENGER AND FEEIGHT, AND TEAIN MILEAGE. 



Item. 



Column for 
Tonnage, 

No.Pasfcen 
gets. No. 
Trains, 
Mileage, 
No. Cars. 



Columa.s for Revenue 
and Rites. 



Passengek Teaffic— 1 

Number of passen&ers carried earning revenue 16i, 581 

Number of passengers carried one mile 8,468, 109 

Number of passengers carried one rnile per rnile of road. 77,^56 

Average distance carried. 52.073 

Total passenger revenue | 

Average amount received from each passenger 

Average receipts per passenger per jxlle 

Total pa^-senger earnings 

Passenger earnings per mile of road 

Pa-'Senger earnings per train mile 

Freight Traffic— 

Number of tons carried of freight earning revenue .502, 9iO 

Number of tons carried one mile 12,7;^,8.58 

Number of tons carri*-d one mile per mile of road .S93,027 

Average distance haul of one ton 84 

T>.tal Ireight revenue 

Average arriouni received fjr fach ton < f freight 

Average receipts per ton per mile 

Total freight earnings 

Freight earnings per rnile of road.._ 

Fre'.ghi earnings per train mile j 

PA-SSEXGEE AST) Feeight— 

Passenger and freight reveaue 

Passenger and freight revenue per mile of road 

Passenger and freight earnings 

Passenger and freight earnings per mile of road 

Gross earnings from operation ■ 

Gross earnings from operation per mile of road I 

Gross earnings from operation per train mile 

Operating expenses 

Operating expenses per mile of road 

Operating expenses per train mile | 

Income Jrom operation 

Income from operation per mile of road 



Dollars. Cents Mills. 



$153,301 



1-0,811 

1,662 

1 



810 



4^8 






416,129 



416,129 

4,102 

2 

o99, 431 

5,5i2 

626,910 

720,9-50 

6, mo 

2 
421,493 

8,876 

I 

299,457 

2,7 3 



709 
043 



185 



742 



0-S5 
765 



560 
298 



118 



N. C. CORPORATION COMMISSION. 



PASSENGER AND FREIGHT, AND TRAIN MILEAGE— Continued. 



Item. 

■ 


Column for 
Tonnage, 

No. Passen- 
gers, No. 
Train?, 
Mileage, 
No. Cars. 


Columns for Revenue 
and Rates. 


Train Mileage— 

Miles run by passenger trains. 


153,462 

184, 513 

12, 400 


Dollars. 


Cents 


Mills. 


Miles run by freight trains 




Miles run by mixed trains 












Total mileage trains earning revenue 

Mileage of loaded freight cars — north or east 


350,375 
2,033,154 
1,590,626 
161,557 
608, 865 
27.6 
22.2 
5.4 
26.6 
12.0 




Mileage of loaded freight cars — south or west 























Average number of freight cars in train . 


=: 







Average number of loaded cars in tiain 




Average number of empty cars in train 




Average number of tons of freight in t'ain „ . 




Average number of tons of freight in each loaded car__ 















EMPLOYEES AND SALARIES. 



Class. 


Number. 


Total Number 
of Days 
Worked. 


Total 
Yearly Com- 
pensation. 


Average 
Daily Com- 
pensation. 


General administration 


35 
152 
505 
399 


10,9-5 
47,576 

158,065 
124,887 


$28,181.46 

34,950.40 

257,698.33 

173,920.63 


$2.57 


Maintenance of way and structures — 
Maintenance of equipment ._ 


.73 
1.63 




1.39 






Total (including "General Officers") 


1,091 


341,483 


494,750.82 


1.45 



RENTALS PAID. 

Name of road— G., C.& N. Railway Co 

Terminals— Raleigh, N.C.--N.C. Railroad Compary 



$162,128.86 
454.76 



RALEIGH AND GASTON RAILROAD COMPANY. 



119 



FREIGHT TEAFPIC MOVEMENT. 



Commodity. 



Products of Agriculture— 

Grain 

Flour 

Hay 

Tobacco 

Cctton 

Fruit and vegetables 

Sumac 

Products of A^•IMALS— 

Live stock _. 

Other packing house products 

Poultry, game, and fish 

Wool 

Hides and leather 

Products of MI^"ES— 

Bituminous coal 

Coke 

Ores 

Stone, sand, and other like articles. 

Products of Forest— 

Lumber 

Manufactures— 

Petroleum and other oils 

Sugar 

Naval stores 

Iron, pig and bloom 

Other castings and machinery 

Bar and sheet metal 

Cement, brick, and lime 

Agricultural implements 

Wagons, carriages, tools, etc 

Win s, liquors, and beer 

Household goods and furniture 

Cotton factory products 

Merchandise 



Freight 

Originating 

on this 

Road. 



Freight Re- 
ceived from 
Connecting 

Roads 

and other 

Carriers. 



Whole Tons J^^ole Tons. 



MLscellanf ous— other commodities not men 
tioned above. 
Total tonnage— North Carolina 



822 

194 

18 

3,620 

6,609 

194 

217 

143 
87 
11 
7 

166 



3,734 J 

I 

5,847 i 

1,303 I 
40 i 



20o 

64 

2,144 

106 

97 

559 

173 

3,744 

3,392 

10,980 



17,063 
10, .329 

3,2.58 
12,C99 
30, 652 

1,664 



3,360 

6,327 

177 

110 

871 



144 

1 

,370 



103, 640 



7,182 
5,070 



7,782 

27, 380 

1,769 

1,545 

2, 315 

434 

746 

748 

1,080 

33.606 I 

108,7.37 j 

46,071 



Total 
Freight Tonnage. 



^hole Tons] Per Cent 



17, 88-5 
.0,-523 

3, 276 
15,719 
37,261 

1,858 
2:^5 

3,c03 

6,414 

188 

117 

1,037 

17,886 
144 i 
1 
10, 101 

109, 487 

8, 485 

5,110 

7,782 

27,880 

1,974 

1,609 

4, 459 

540 

843 

1,307 

1,2.53 

37, 3'0 

112,129 

57, 051 



3. .50 

2.09 

.65 

3.12 

7.41 

.36 

.05 



1.27 
.04 
.02 
.20 

.3.56 



2.01 



1.68 

1.02 

1.54 

5.48 

.39 

.32 

.88 

.11 

.17 

.26 

.24 

7.43 

22.29 

11.35 



44,476 



458, 434 



502,910 



100.00 



120 



N. C. CORPORATION COMMISSION. 



F^aleigh and Augusta Air Line Railroad Company 



DIRECTORS. 



Name of Director. 


Post office Address 


Date of Expiration 
of Term. 


J.S. Williams __ 


Richn end, Va _ 


Novemb=T 9 J899 


Irvin Keyser 

Henry A. Parr __. 


Baltimore, Md 

Biltimore, Md _ 


November 9, 1899. 
November 9, 1899. 


D. H. Tiiomas 

T.O. Williams, Jr 

B. Cameron 

B. N.Dut e - 


Baltimore, Md __ 

Richtuond, Va 

St8gville,N. C 

Durham, N.O 


November 9, 1899. 
November 9, 1899. 
November 9, 1899 
N. vember 9, 1899. 



OFFICERS. 



Title. 


Name. 


Location of Office. 




J.Skelton Williams .. 






J.Skelton Williams 

B.St. John _. 


Richmond, Va. 


First Vice President -__ 


Ports mouth, Va. 


Secretary 


J. M.Sherwood— — 

J H Sharp 


Portsmouth, Va. 


Treasurer 


l\)rtsmouth, Va. 


Attorney, or General Counsel 

Comptro'ler 


L. R Watts - _ 


Portsmoutb, Va. 


W. W.Chamberlaine 


Portsmouth, Va. 


Auditor 


J.B.Martin 


Portsmoutb, Va. 


Auditor Receipts 




Portsmouth, Va. 


Auditor Pisbursements 


J.A.Walton 

E St John 


Portsmouth , Va . 


General Mana°"er 


Portsmouih, Va. 


Chief Engineer 


W. W . Gwathney, Jr 


Portsmouth , Va. 


General Superintendent- _. _ 


V. E. Mc Bee 


Portsmouth, Va. 




Portsmouth, Va. 


Superintendent of Telegraph 

Traffic Manager 


W.F.Williams. 




H.W.B. Glover 


Portsmouth, Va, 


General Freight Agent 


C. R. Capps 


Portsmouth, Va. 


Assistant General Freight Agent 


R. I. Cheatham 


Atlanta, Ga. 


G neral Passenger Agent 


L.S.Allen _. 


Portsmouth, Va. 









RALEIGH AND AUGUSTA AIR LINE RAILROAD COMPANY. 



121 



PROPERTY OPERATED. 





TERMINALS. 


Miles of Line 

for each 
Road Named. 


NAME. 


From— 


To- 


R. and A. A. L. R. R. Co 


Raleigh,N.C— - 


Hamlet,N.C — . 


96.60 


R.and A.A.L.R.R.Co 


Hamlet,N.C— - 


Gibsji},N.C 


10.13 
1067-3 


Pittsboro Railroad 


Moncure, N.C-— 
Hamlet,N. C — . 


Pitt&boro, N. C — 


11 20 


Palmetto Railway 


Cheraw.S.C — 


18.20 







CAPITAL STOCK. 

Capital stock, common— number of shares authorized 8,736 

Par value of shares _._ $100.00 

Total par value authorized 87;^, 600.00 

Total amount issued and outsianding 873,600.00 

Issued for cash, common— total number shares issued and outstanding 8,736 

Total cash realized $873,600.00 



FUNDED DEBT. 

MORTGAGE BONDS, MISCELLANEOUS OBLIGATIONS, AND INCOME BONDS. 

Class of bond or obligation]" First mortgage Date of Issue, 1886. When due, 1926 

Amount of authorized issue $1,000,000.' 

Amount issued 1,000,000.00 

An: ount outstandicg 1, 000, 000. 00 

Cash realized on amount issued 1,000,000.00 

Interest— Rate, 6 percent. When payable, January and July. 

Amount accrued during year . 60,000.00 

Amount paid during year 60,000.00 



FUNDED DEBT. 
EQUIPMENT TRUST OBLIGATIO >fS.-A. General Statement. 



Series or Other 
Designation. 


Date of 
I '■sue. 


Term. 


1- 

11 


Fquipment Covered. 


Series ,S. A.L. C.T. "A"... 


March 1,1893 


10 years 


4 


14 locomotives, 4 first class passenger 
cars, 4 passe i'ger and baggage cars, 
4 mail aod ex press cars, 15 caboos 
es, 35st )ck, 25 box. 


Series S.A.L. C.T. "B"... 


April 1,1895 


10 years 


6 


12 passengerand freight locsmotives. 


Series S.A.L. C.T. "C"— 


\pril 1,1896 


10 years 


7 


12 locomotives, 175 boxes, 100 flats. 


Series S.A.L. C.T. "D"._- 


Nov. 1, 1897 


20 years 


19 


5 freight locomotives, 2 switch loco 
motives, 350 boxes, 15 1 flats. 



122 



N. C. CORPORATION COMMISSION. 



FUNDED DEBT. —Continued. 
B, Statement of Amount. 



SEKIES OR OTHER 
DESIGNATION. 



One-half Series S.A.L. C.T. 
"A" 

One-third Series S. A. L. C. T 
" B " 

One-third Series S, A. L. O. T 
"0" 

One-third Series S.A.L. C.T 
"D" 

Total 



DEFERRED PAYMENTS- 
PRINCIPAL. 



Original 
Amount. 



$125,000 00 



Amount 

Out- 
standing. 



DEFERRED PAYMENTS- 
INTEREST. 



Original 
Amount. 



$50,0fi0.00 



36.H66.C6 1 22,000.00 



$8,250.00 
1,833.33 



83,333.33 1 58,333.34 1 4,166.06 



100,000.00 



344,999.99 



95,000.00 5,000.00 



225,833.34 17,2-19.99 



Amount 

Accrued 

During 

Year. 



$3,125.00 
1,283.33 
3,333.34 
^,875.00 



12,616.67 



Amount 

eaid 

Daring 

Year 



$3,125.00 
1,283.33 
3,333.34 
4,875.00 



12,616.67 



Rate. 

5 

5 
5 
5 



RECAPITULATION OP FUNDED DEBT. 

Mortgage bonds— amount issued 

Amount outstanding 

Interest- amount paid during year !. 



$1,000,000.00 

1,000,000.00 

6^00O.CO 



CURRENT ASSETS AND LIABILITIES. 

ASSETS. 

Cash 

Due from solvent companies and individuals 

Net traffic balances due from other companies . 

Total— cash and current assets 

Balance— current liabilities 

Total 

STABILITIES. 

Loans and bills payable 

Audited vouchers and accounts 

Wages and salaries 

Total— current liabilities 

Materials and supplies on hand, $29,458.58 



$10,236.25 
21,037.27 
39,758.93 



71,032.45 

308,648.47 



379,680.92 



70,000.00 

300,015.76 

9, 665. 16 



3:9,680.92 



RALEIGH AND AUGUSTA AIR LINE RAILROAD COMPANY. 



123 



RECAPITULATION. 
A. FOR MILEAGE OWNED. 





Total 

Amount 

Outstanding. 


Apportion- 
ment to 
Railroads. 


AMOUNT PER ] 


MILE OF lilNE. 


ACCOUNT. 


Miles. 


Amount 


Capital stock 


$873,600.00 

1,000,000.00 

225,333.34 


$873,600.00 

1, COO, 000.00 

225,333.34 


106.73 
106.73 
106.73 


$8,185.00 


Bonds _ — 


9,369.00 




2,112.00 






Total . _- 


2,098,983.34 


2,098,933.34 


106. ',3 


19,666.00 



B. FOR MILEAGE OPERATED. 



NAME OF ROAD. 


Capltal 
Htock. 


Funded 
Debt. 


Total. 


AMOUNT PER MIL,E OF 
LINE. 




Miles, 


Amount. 


R.& A.A.L.R.R.Co.-.- 


$873,600.00 


$1,000,UOO.OO 


$1,873,600.00 


136.13 


$13,763.00 



INCOME ACCOUNT. 



Gross earnings from operation 

Less operating expenses 


$488,599.24 
341,313.9'.^ 








Income from operation 




$147, 285. S2 


Interest on bonds owned 


140.00 
4,026.32 




Miscellaneous income— less expenses 




Income from other sources— _ 


60,000.00 
1,316.78 
12, 616. 67 
11,554.29 
17,250.00 
142.37 


4,166.32 


Total income _ 

Deductions from Income— 

Interest on funded debt accrued 


151,451.64 


Interest on interest- bearing current liabilities accrued 




Interest on equipment and car-trust bonds 




Taxes. 




Principal paid on car trusts „ _ 




Other deductions— loss in fuel.—.. .. 





Total deductions from income 




102,880.11 








Net income -_ _. __ _ 


48,571.53 






Surplus from operations of year ending June 30, 1899 


48,571.53 


Deficit on June 30, 1898 [from '• General Balance Sheet," 1898 
Report]. 

Additions for year- -subscription and sale of C. C. bonds and 




97, 886. 85 






49,315.32 
1,991.15 






Deficit on June 30, 1899 [for entry on "General Balance Sheet "]. 


51,306.47 







124 



N. C. CORPORATION COMMISSION. 



EARNINGS FROM OPERATION. 



Item. 



rp^.j,, Deductions, 

ReceiDls AccountofRe 
Kecei pi s. ments etc 



Actual 
Earciugs. 



PASSENGER— 

Passenger revenue 

Less repayments— tic feets redeemed. 

Excess fares refunded . 

Total'deductions . 

Total passenge r revenue 

Mail 

Express 

Extra baggage and storage 

Other items— News Co 

Total pasf'enger earnings ,. 

Freight— 

Freight revenue _ 

Less repayments— overcharge to shippers.— 

Other repayments ^ 

Total deductions 

Total freight revenue 

Total freight earnings 

Total passenger and freight earnings. 
Other Earnings from Operation— 

Hire of equipment— balance 

Telegraph companies 

Rents not otherwise provided for 

Other sources— demurrage 

Accident insurance 

Total other earnings 

Total gross earnings from operation ._ 



$121,600.63 



$124.93 
244.34 



369.27 



349, 860. 55 



6,453.81 

2,211.19 

199. 66 

305. GO 

.39 



3,863.73 
11,410.72 



1~, 274.45 



$121,231.36 

15,843.11 

7, 268. 31 

331.95 

168. 30 



144, 843. ( 



3^1,586.10 



334,586. lO 



47^,429.19 



170.05 



4!'8,599.24 



MISCELLANEOUS INCOME. 

Outside rents 

Interest received 

Total 



$1,440.00 
2,5S6.32 



4, 02H, a2 



RALEIGH AND AUGUSTA AIR LINE RAILROAD COMPANY. 



125 



BONDS OWNED. 
Name— CO. bonds— income or interest rectived $N0. 00 



OPERATING EXPENSES 

Operating Expenses— 

Maintenance of ways and structures 

Maintenance of equipment 

Conducting transportation 

General expenses „ 

Total 

Percentage of operating expenses to earnings, 69. 1. 



$75, -^04.23 
58,819.29 

189,614.84 
17,475.56 

341,818.92 



RENTS PAID. 



Terminal— Raleigh, N. C. 

Name of company owning property leased— N. C. R. R. C > — 



$454.76 



COMPARATIVE GENERAL BALANCE SHEET. 



JUNE 30, 1898. 


ASSETS 


YEAR ENDIN.^ JUNE 30, 18S9. 


Item 


Total . 


Increase. 


Decrea>se. 


$1,939,355.73 


Cost of road _ _ 


$1,939,520.02 
51,536.09 


$164.29 
206. 52 




51,329.57 


Cost of equipment _ , 




15,587.50 


Bonds owned . . __.. 


$1^ .5!-7..50 


31,454.24 




31,4.54.24 
71,032.45 

78,973.07 
29,458.58 
51,306.47 


11,957.75 
10,759.17 




128,501.90 
67,015.32 


Cash and current assets 

OTHER ASSETS. 

Equipment trusts 


57, 469. 45 


18,699.41 

97,886.85 


Materials and supplies 

Profit and loss . 


46,580.88 




Grand total 


2,349,880.52 


2,253,280.92 


.- .- 


96, 549. (0 




LIABILITIES. 

Capital Stock . 


873,600.00 


873,600.00 

1,000,000.00 

379,680.92 






1,000,000.00 


Funded debt 




476, 230. 52 


Current liabilities 




96,549.60 




Grand total 




2,349,830.52 


2,253,280.92 




96,549 60 











126 



N. C. CORPORATION COMMISSION. 



COST OP ROAD, EQUIPMENT AND PERMANENT IMPROVEMENTS. 



Item. 


Expenditures 
During Year 


Total Cost to Total Cost to 
June 30, 1898. j June 30, 1899. 


Cost Per 
Mile. 


Construction— 

Station buildings and fixtures 


$164.^.9 
206. 52 






Equipment— 

Other cars of all classes— caboose 












Total equipment 


206.52 
164.29 


$51,329.57 $51,536.09 
1 939 355 73 l ^'^^ ^'>(^ fi> 


$182,86 
18,172.21 


Total construction 








Grand total cost construction, 
equipment, etc 


370.81 


1,990,685.30 


1,991,056.11 


18,655.07 



FREIGHT TRAFFIC MOVEMENT. 



Commodity. 



Products of Agriculture— 

Grain 

Flour 

Hay 

Tobacco 

Cotton 

Fruit and ve:i,etables _. — 

Products of Animals— 

Livestocli - 

Other packing house products 

Poultry, game and fish 

Woo] 

Hides and leather 

Products of Mines - 

Bituminous coal — - 

Ores 

Stone, sand, and other like articles. 

Products of Forest— 

Lumber 



Freight 

Originating 

on this 

Road. 



22 



35,415 



Freight 

Received 
from Con 

necting 

R ;ads and 

other 

Carriers. 



Whole Tons 

12,312 
7, 290 
2, 278 
•2, 722 

27, 586 
1,418 

3,017 

4,15(1 

81 

112 

752 

35,961 

2 

7,097 

111,133 



Total 
Freight Tonnage. 



Whole Tons. 


Pe7- Cent. 


12,478 


2.46 


7,447 


1.46 


2,487 


.49 


2,763 


.54 


31,694 


6.26 


2, 202 


.43 


•\119 


.62 


4, 202 


.83 


87 


.02 


il7 


.02 


779 


.16 


35,977 


7.09 


2 




7,119 


1.40 


146,548 


28.92 



RALEIGH AND AUGUSTA AIR LINE RAILROAD COMPANY. 



127 



FREIGHT TRAFFIC MOVEMENT— Continued. 



Comnaodity. 



Manufactures-- 

Petroleum and other oils 

Sugar 

Naval stores _ 

Iron, pig and bloom 

Iron and steel rails 

Other castings and machinery. - 

Bar and sheet metal , 

Cement, brick and lime „_ 

Agricultural implements -„^ 

Wagons, carriages, tools, etc 

Wines, liquors and beers 

Household goods and furniture. 

Cotton factory products 

Merchandise 



Freight 

Originating 

on this 

Road. 



Whole Tons. 

4-J5 

93 

3,551 



Miscellaneous : Othercommodities not men- 
tionfrd above 



Total tonnage— entire line N. C. 



57 

270 

II 

1,054 

73 

55 

113 

126 

579 

1,880 

5,790 



55, 207 



Freight 
Received 

from Con- 
necting 

Roads and 

other 

Carriers. 



Whole Tons. 
6,407 
3,133 
5,254 

27,480 



2,017 
1,180 
1,580 



722 

886 

31, 907 

114,809 

39, 255 
451,676 



Total 
Freight Tonnage. 



Whole Tons. 

6,852 

3,226 

8,805 

27, 480 

57 

2,287 

1,191 

2,634 

459 

801 

835 

1,012 

32, 486 

116,689 

45,045 

506, 883 



Per Cent. 

1.36 

.63 

1.73 

5.44 
.02 
.46 
.26 
.52 



.16 

.19 

6.40 

23.00 

8.88 
100. 00 



EMPLOYEES AND SALARIES. 



Class. 


Total ! Total Yea Hv 
Worked, j ^^^^• 


Average 
Daily 

Compen- 
sation. 


General admlDistration 


30 

141 
185 


9,390 
44, 133 
57,905 


S20,946.06 
31,200.27 
73,172.49 


2.23 


Maintenance of ways and structures 


.77 
1.26 






Total (including " General Officers ")- 


356 


111,428 


125.318.82 


1.12 



128 



N. C. CORPORATION COMMISSION. 



PASSENGER AND FREIGHT, AND TRAIN MILEAGE. 



Item. 



Column for 
Tonnage, 

No. Passen 

gers, No. 

Trains, 

Mileage, 

No. Cars. 



Columns for Revenue 
and Rates. 



133,700 

740,821 

49,5 8 

50,417 



PASSENGER TRAFFIC— 

Number of passengers carried earning revenue 

Number of passengers carried one mile 

Number of passecgers carried one mile per mile of road 

Average distance carried „ 

Total passenger revenue 

Average amount received from each passenger 

Average receipts per passenger per miie 

Total passenger earnings . 

Passenger earnings per mile of road 

Passenger earnings per train mile 

Freight Traffic - 

Number of toes carried of freight earning revenue j 506,8^3 

Nuniterof tons carried one mile o8.915,7HL' 

Number of tons carried one mile per mile of road 285, 872 

Average distance haul of one ton 76 

Total freight revenue 

Aveiage amount received for each ton of f eight | 

Average receipts per ton per mile 

Total freight earnings j ' 

Freight earning"- per mile of road j -— 

Fieight farnings per train mile j 

PASSENGER ANB FREIGHT— 

Passenger and freight revenue 

Passenger and freight revenue per miJe of road 

Passenger and freight earnings j 

Passenger and freight earnings per mile of road _. j 

Gross earnings from operation 

Gross earnings from operation per mile of road i 

Gross earnings from operation per train mile ! 

Operating expenses ! 

Operating expenses per mile of road 1 

Operating expenses per train mile j 

Income from operation 1 

Income from operation per mile of road 1 



Dollars. 



M21,231 



144,813 
1,06 



Cents 



36 



334,586 



334,586 

2,457, 
1 



89 



455, 817 


46 


3,'-!48 


39 


479,429 


19 


3,5'^1 


84 


488,599 


24 


8,589 


21 


1 


26 


341,313 


92 


2,507 


83 





88 


147,285 


32 


1,081 


95 



SEABOARD AND ROANOKE RAILROAD COMPANY. 



129 



PASSENGEH AND REIGHT, AND TRAIN MILEAGE— Continued. 



Item. 


Column for 
Tonnage, 

No. Passen- 
gers, No. 
Trains, 
Mileage, 
No. Cars. 


Columns for Revenue 
and Rates. 


Train Mileage— 

Miles run by passenger trains 

Miles run by freight trains 


153,133 

199,399 

32, 424 

384,956 

1,846,221 

1,456,180 

207, 654 

666, 827 

26.7 

19.6 

7.1 

24.1 

12.3 


Dollars. 


Cents 


Mills, 


Miles run by mixed trains 






Total mileage trains earning revenue 

Mileage of loaded freight cars— north or east. 





Mileage of loaded freight cars — south or wsst 




Mileage of empty freight cars— north or east 




Mileage of empty freight cars— south or west 




Average number freight cars in train 




Average number loaded cars in train 




Average number of empty cars in train _.. _. 




Average number of tons of freight in train 




Average number of tons of freight in each loaded car._ 

















130 



N. C. CORPORATION COMMISSION. 



Seaboard and R^oar)oK« Railroad CorT)pany, 



DIRECTORS. 



Nameof Dhector. 


Post-office Address 


Date ( f Expiration of 
Term 


J.W.Middendorf . 


Baltimore, Md 

Baltimore, Md 

Baltimoie, Md 

Richmond Va 


October 3d, 1899. 


John Gill of R 


October 3d 1899 


R. C. Hoffman 

James Dooley 


Oct( ber 3d, 1899 
October 3.1 1899 


Charles E Johnson » 


Raleigh, N.C 


October 3d 1899 


Charles Chauncf^y - 


Philadelphia, Pa 


October 3d , 1899. 







OFFICERS. 



Title. 



Chairman of the Board 

President 

First Vice-President „ 

• Secretary 

Treasurer 

Attorney, or General Counsel . 

'Comptroller 

-Auditor, General 

Audit >r of Disbursements 

Auditor of Receipts 

General Manager 

<Chiff Engineer 

General Superintendent 

Division Superintendent 

Superintendent of Telegraph- 

Traffic Manager 

General Freight Agent 

Assist. General Freight Agent 
Genera) Passenger Agent 



Name. 



John Skelton Willlams. 
John Skelton Williams. 

E. St. John 

Wm. W. Chamberlaine.- 

John H.Sharp 

Legh R. Watts 

Wm, W. Chart berlaine.. 

J. B. Martin. „ 

J. A. Walton 

J. M. Sherwood 

E.St. John 

Wm. W.Gwathney, Jr 

V. E. McBee 

T.W\Whisnant 

W.F.Williams 

H.W.B. Glover 

Charles R.Capps 

R. I. Cheatham 

L.S.Allen 



Location of Office. 



Richmond, Va. 
Richmond, Va. 
Portsmouth. Va. 
Portsmouth, Va. 
Portsmouth, Va. 
Portsmouth, Va. 
Portsm( uth, Va. 
Portsmouth, Va. 
Portsmouth, Va. 
Portsmouth, Va 
Portsmouth, Va. 
Portsmouth, Va 
Portsmouth, Va. 
Portsmt uth, Va. 
Portsmouth, Va 
Portsmouth, Va. 
Portsmouth, Va. 
Atlanta, Ga. 
Portsmouth, Va, 



SEABOARD AND ROANOKE RAILROAD COMPANY. 
PROPERTY OPERATED— State of North Carolina. 



131 





TERMINALS. 


Miles of 

Line for 

each 

Road 

Named, 


Miles of 
Line for 


NAME. 


From— 


To- 


each 
Class of 
Roads 
Named. 


(1) a. Seaboard and Roanoke Rail- 
road Company. 

(3) Roanoke and Tar River Rail- 
road Company. 


State line 


Weldon, N.C 

Lewiston,N.C 


18.40 
32.3 


18.40 


S ate line Virginia 
and N. Ca olina. 


32.3 


Total N. C 


50.70 


(1) a. Seaboard and Roanoke Rail- 
road Company. 

b Seaboard and Roanoke Rail- 


Portsmouth , Va 

Boykins, Va 


Weldon, N.C 

State line Virginia 
and N. Carolina. 

Lewiston, N. C 


78.6 
2.7 

32.3 


81.3 


road Company. 

(3) Roanoke and Tar River Rail 
road Company. 


State line Virginia 
and N. Carolina. 


32.3 


Total 


113.6 













FUNDED DEBT. 
MORTGA^GE BONDS, MISCELLANEOUS OBLIGATIONS, AND INCOME BONDS. 



i 

[ TIME 


Amount ot 

Authorized 

Ii>sue. 


Amount 
Issued. 


Amount 
Outstanding. 


Cash Real- 


CLASS OF BOND OR \ s^ . 
OBLIGATION. O S 

i P 


1926 


ized on 

Amount 

Issued. 


First mortgage 1886 


$2,500,000.00 


$2,500,000.00 


82,500,000.00 


$2,561,183.12 


Mortgage bonds 1 


2,500,000.00 
690,000.00 


2,500,000.00 
690,000.00 


2,500,000.00 
690,000.00 


2,561,183.12 
690,000.00 


Miscellaneous obligations- 


Grand total - 


8,lf^0,000.00 


3,190,00.000 


3,190,000.00 


3,2.31,183.12 





CLASS OF BOND OR OBLIGATION. 

First mortgage 

Mortgage bonds 

Miscellaneous obligations 

Grand total 





INTEREST. 




Ra'e 

i-er 

Cent. 

5 
6 


When Amount 
Pa^ahi^ Accrued 
Payable. During Year. 


Amount 
Paid Dar- 
ing Year. 


Jan. and July.' $125,000.00 


$125,000.00 


Feb. and Aug. 


125,000.00 
41,400.00 
166,400.00 


125,000.00 
41,400.00 
166,400.00 



132 



N. C. CORPORATION COMMISSION. 



FUNDED DEBT. 
EQUIPMENT TRUST OBLIGATIONS, A. GENERAL STATEMENT. 



Series or Other Designation. 



Date of 
Issue. 



Term 


.^o. of 
Pay- 
ments. 


Years. 
10 


1 


10 


2 


10 


3 


10 


6 


10 


7 


10 


19 



Equipment Covered. 



S. A. L. equipment— Series A 

S. A. L. equipment— Series B 

S. A. L.car trust— Series A— . 

8. A. L.car trust— Series B— . 
S. A. L. car trust— Series C— . 
S. A. L. car trust— Series D-_. 



Jan. 1,1890 

Jan. 1,1891 

Mar. 1, 1893 

Apr. 1,1895 
Apr. 1,1896 
Nov. 1, 1897 



11 locomotives, 1 superintendent? car, 
3 M.B. & E. cars, 15 cabo '«e, 5 >-ec- 
ond c lass passenger car^, 4 fi rst- class 
passenger cars, 200 box cars. 

4 shifters, 4 freight locomotives, 4 pas 
senger loc^rnotives, 3 passenger 
cars, 5 first class passenger cars, 200 
box. 25 coal cars. 

14 locomot'ves, 4 first-class passenger 
cars, 4 passenger and box cars. 4 
M. & Ex. cars, 1 5 caboose, 35, stock 
CdiTs, 25 box cars. 

12 passenger and freight locomotives. 
12 locomotives', 175 box, 100 flat cars. 

5 freight locomotives, 2 switches, 350 
box, 150 flat cars. 



B. 


STATEMENT OP AMOUNT 










DEFERRED PAYMENTS — 


DEFERRED PAYMENTS— 




PRINCIPAL. 




INTEREST. 


SERIES OR OTHER 
DESIGNATION. 


Original 
Amcunt. 


Amount 

Outstai d 

ing. 


Original 
Amount. 


Amount 

Accrued 

During 

Year. 


Amount 

Paid 

During 

Year. 


Rate, 

Per 

Cent. 


>^ interest in S. A. L. equip 
men t— Series A 


S12-, 000.00 


$12,500.00 


$6,250.00 


$1,250.00 


$1,250.00 


5 


>^ interest in S. A. L. equip- 
ment—Series B. 


125,000.00 


25,000.00 


6,250.00 


1,875.00 


1,875.00 


5 


3^ interest in S. A. L.car trust- 
Series A. 


125,000.00 


50,000 00 


6,250.00 


3,125.00 


3,125.00 


5 


3^ interest in S. A. L.car trust- 
Series B. 


36, 666. 66 


22,000.00 


1,833.33 


1,283.33 


1,283.33 


5 


% interest in S. A . L. car trust- 
Series C. 


83,333.33 


58,383.33 


4,166.66 


3,333.33 


3,333.33 


5 


i< interest in S. A . L. car trust- 
Series D. 

Total 


100,000.00 


95,000.00 


5,000.00 


4,875.00 


4,875.00 


5 


.^.94,999.99 


262,833.33 


29,749.99 


15,741.66 


15,741.66 





RECAPITULATION OP FUNDED DEBT. 





Amount 
Issued. 


Amount 
Outstanding. 


INTEREST. 


CLASS OF DEBT. 
t 


Amrunt 

Accrued 

During Year. 


Amount 

Paid 

During Year. 


Mortgage bonds - 


$2,500,000.00 
690,000.00 


$2,500,000.00 
690,00?. 00 


$125,000.00 
41,400.00 


$125,000.00 
41 400 00 








Total 


3,190,000.00 


3,190,000.00 


166,400.00 


166,400.00 





SEABOARD AND KOANOKE RAILROAD COMPANY 



13: 



CAPITAL STOCK. 



Description. 



Capital stock— common 

preferred _._ 

2d preferred 

Total 



Number of 

Shares 
Authorized. 



11,442 

2,000 

442 



13,8S4 



Par 

Value of 
Shares. 



$100.00 
10?. 00 
100.00 



Total Par 

Value 

Authorized. 



$1,50:, 000. 00 

200,00^00 
90,000.00 



Total 
Amount 
Issued and 
Outstand- 
ing 



$1,144,200.00 

200,000.00 

44,200.00 



1,790,000.00 i 1,88S, 400.00 





DIVIDENDS DECLARED 
DURING YEAR. 


BESCRIPTION. 


Rate. 


Amount. 




2 per cent. 
7 per cent. 
7 per cent. 


$28,605.00 
14,000.00 




2d preferred 


8,091.00 






Total 


45, 699. 00 







MANNER OF PAYMENT FOR CAPITAL STOCK. 

Issued for cash— common 

Issued f )r bonds— common > 

Total 



Total Number 
Shares Issued 

aud Out- 
I stand iLg. 




13, 884 



T<it.Hl Cash 
Realiz-d 



$517,000.00* 

606, 4 "0. 00 t 
1.44, 200.00 



1,367,650.00 



* Entered on books as subscription. 



t Issued on settlement of bonds. 



CURRENT ASSETS AND LIABILITIES. 



CASH AND CURRENT ASSETS AVAILABLE FOR PAYMENT OF 
CURRENT LIABILITIES. 

Cash 

Bills receivable 

Due from solvent companies and individuals 

Net traflac balances due from other companies 

Total— cash and current assets 

Total 



$127,144.40 

156,455.69 

120,977.13 

66, 489. 40 



471,066.62 



471,066.62 



134 N. C. CORPORATION COMMISSION. 

CURRENT ASSETS AND LIABILITIES. —Continued. 

CURRENT LIABILITIES ACCRUED TO AND INCLUDING JUNE 30, ^899. 

Loans and bills payable $63,338.34 

Audited vouchers and accounts , 53, 118.94 

Wages and salaries 15, 22. 64 

Miscellaneous 38,414.40 

Total— current liabilities . 170,089.32 

Balance— cash assets 800,977.30 

Total 471,066.62 

Materials and supplies on hand, $31,685.45. 



RECAPITULATION. 
A. FOR MILEAGE OWNED. 



ACCOUNT. 


Total 

Amount 

OuistandiDg 


Apportion- 

rcieut to 
Rauroaos. 


AMOUNT PER MILE OF LINE 




Miles. 


Amount. 


Capital stock 

Bonds - 


$1,388,400.00 

3,190,000.00 

262,833.33 


$1,388,400.00 

3,190,000.00 

262,833.33 


81.3 
81.3 


$17,077 
39, 237 


Equipment trust obligations 


3,232 








Total 


4,841,233.33 


4,841,233.33 


81.3 


59,546 



B. FOR MILEAGE OPERATED. 



NAME OF ROAD. 


Capital 
Stock. 


Fund'^d 
Debt. 


Total. 


AMOUNT PER MILE OF 
LINE. 




Mi es 


Amount. 


Seaboard aud Roanoke 
R.B.CO. 

Roanoke and Tar River 
R. R. Co. 

Grand total 


$1,888, 400. CO 

51,500.00 
J,^39,900.00 


$3,190,000.00 

2*10,000.00 
3,450,0 00 


$1,578,400.00 

311, 00. 00 
4,889,900.00 


81.3 

82.3 
113.6 


$56,314 

9,644 
65,958 







MISCELLANEOUS INCOME. 



Item. 


Gross 
Income. 


Outside rents - 


$4,922.41 




8,922.74 




64,963.32 






Total 


78,808.48 







SEABOARD AND ROANOKE RAILROAD COMPANY. 



135 



COST OP ROAD, EQUIPMENT AND PERMANENT IMPROVEMENTS. 



Item. 


Expenditures 
During Year. 


Total Cost to 
June 30, 

1898. 


Toti^l Cost to 
June 30, 

1899. 


Cost 
Per Mile 


Construction : 


$161.47 


$34,157.51 
122,575.00 
402,473.20 
450,000.00 
245,345.17 
60,000.00 
363,539.62 


$34,318.98 

122,575.00 

402,473.20 

450,531.13 

245,733.56 

60,579.51 

370,247.39 

587.30 

700. 10 

2,235.48 

7,890.82 

260,396.45 

35,980.61 

2,57:5.13 

18,568.85 

174,271.68 

1,567.55 

662,710.62 

36,000.00 




Right of way and station grounds- 







Grading - 


531. 13 
388.39 
579.51 

6,707.77 
587.30 
700. 10 

1,897.42 




Tlridp'ps! t,rp«itlps and f^nlvprts 




Ties 




Rails 








Frogs and switches 






338.06 

7,890.82 

256,860.43 

30,872.32 

2,573.13 




Telegraph lines 




Station buildings and fixtures 

Shops, roundhouses and turntables.. 


3,536.02 
5,108.29 








18,568.85 

72,500.00 

1,567.55 






101,771.68 




Electric-light plants 


_ _ 


Miscellaneous fetructures 


662,710.62 
36,000.00 




Interest and discount 




- 










112,833.80 


2,777,107.56 


2,889,941.30 


$:^5, 546.63 




Equipment : 
LoconQOtlves _ _ 




60,000.00 

22,750.00 
7,450.00 
e, 000. 00 

11,997.80 

155,514.79 

9,658.86 

32,591.54 


60,000.00 

22,750.00 
7,450.00 
6,000.00 

11,997.80 

155,514.79 

9,658.86 

3 ',591.54 




Passenger cars . 






Sleeping, parlor and dining cars 






Baggage, express and postal cars _ 






Combination cars 






Freight cars — - _ 






Other cars of all clashes 







Floating equipment __. 












Total equipment 




3C5,962.99 
2,777,107.56 


305,962.99 
2,889,941.86 


3,750.67 
35,546.63 


Total construction 


112,833.80 




Grand total cost construction, equip 
ment, etc. 


112,833.80 


3,083,070.55 


3,195,904.35 


39,297.30 


Total cost construction, equipment, 
etc.— State of North Carolina. 


51,000.88 


1,393,547.89 


1,444,548.77 


39, 297. 30 



136 



N. C. CORPORATION COMMISSION. 



INCOME ACCOUNT. 



■Oross earnings from operation 


$978,683.11 
654,360.36 




Less operating expenses .. 








Income from operation 




S324 222 75 


Dividends on stocks owned 


20,481.50 
30,900.00 
78,808.48 




Interest on bonds owned 












Income from other sources . . _ . 




1^0,189.88 


Total income 




454,5K'.73 


Deductions from Income— 

Interest on funded debt accrued 


166,400.00 
2,053.51 

178,378.86 
26,574.20 
45,891.70 


Interest on interest-bearing current liabilities accrued 




Rents paid for lease of road _ __. 




Taxes 




Other deductions 








Total deductions from income . 




419,298.27 








Net income 


35 2U 46 


Dividends 23^ per cent, common stock 


28,605.00 
17,091.00 




Dividends, 7 per ceat, preferred stock 








Total _ - _ _ 




45, 699. 00 








Deficit from operations of 3 ear ending June 30, 1899 


10,484.54 


Surplus on June 30, 1898 [from " General Balance Sheet," 1898 
Report]. 

Deductions for year _ _ 




1,603,756.65 




232. 977. 78 








Surplus on June 30, 1899 [for entrj on "General Balance Sheet"] _ 


1,360,294.33 







OPERATING EXPENSES— North Carolina 

Maintenance of way and structures 

Maintenance of equipment 

Conducting transportation 

General expenses 

Grand total 

Percentage of expenses to earnings 

Operating expenses entire line 



*36,930.00 
81,776.39 

151,851.20 
25,213.28 



295, 770. 87 



654,360.36 



RENTALS RECEIVED. 
Situation of Property-From Garysburg,N.C,, to Weldon,N.C., Petersburg R.R.Co $5,632.08 



SEABOARD AND BOANOKE RAILROAD COMPANY. 



137 



RENTALS PAID. 



Roanoke and Tar River Railroad Co 

Oeorgi a, Carolina and Northern Railway. 
Total 



$16,250.00 
162, 128. 86 



178,378. 



B. RENTS PAID FOR LEASE OF TRACKS, YARDS, AND TERMINALS. 



Designation of 
Property. 


situali' nrf Property 
Leased. 


Name of Company 
Owning Property Leased 


Item. 


Total. 


Tracks— 

Crawf -rd Street 

North Street 


i' .rtsmoutb, Va 

i'^rtsm >uth Va 


City of Portsmouth 

City of Portsmouth 


$2,600.00 
200.00 










Total 




$2,800.00 




A'arious 


Various 


4,815.04 


Offices 




Total 




4 815.04 












Grand total rents — B 


7 615 04 











BONDS OWNED. 

A. RAILWAY BONDS 



Nanae. 


Total 
Par Value. 


Kate, 
Per 

Cent. 


Income 
or Interest 
Receivt^d. 


Valuation. 


S ^ L Belt Line R.R Co 


$600,000.00 


5 
4 


$30,000.00 
900.00 


$510 625.00 


C.C. R.R. Co., Shelby Division bonds 




Total. 


600,000.00 




oO,900.00 


510,625.00 



B. OTHER BON^DS. 



Name. 


Total 
Par Value. 


Income 
or Interest 
Received. 


Valuation. 


National Consolidated Compress 


$750.00 




$800. 00 






Total 


750.00 




800.00 


Grand total— A and B - . 


600,750.00 


$30,900.00 


511,425.00 







138 



N. C. CORPORATION COMMISSION. 



EARNINGS FROM OPERATION. 



Item. 



Total 
Receipts. 



Deductions, 

Account rf 

Repay naents, 

etc. 



Passenger— 

Passenger revenue 

Less repayments- 
Tickets redeemed 

Excess fares refunded 

Other repayments 

Total deductions 

Total passenger revenue 
Mail 



5,501.87 



$869. 82 
224.58 
63.50 
I 1,157.90 



Actual 
Earnings. 



Express 

Extra baggage and storage 

Other items 

Total passenger earnings 

Freight— 

Freight revenue 

Less repayments- 
Overcharge to shippers 

Total deductions 

Total freight revenue 

Total freight earnings 

Total passenger and freight earnings 

Other Earnings prom Operation— 

Switching charges— balance 

Car mileage— balance 

Hire of equipment — balance 

Telegraph companies 

Rents from tracks, yards, and terminals 

Rents not otherwise provided for 

Other sources 

Total other earnings 

Total gross earnings from operation— N. C- 

Total gross earnings from operation- 
entire line. 



; 37,990. 60 



,93 



7, 829. 93 



$97,343.97 

10,711.38 

7,224.25 

763. 12 

233.87 

116,276.59 



730,160.67 


730,160.67 


846,437.26 



4,620.01 

52,319.33 

40,809.95 

1,462.92 

5,632.08 

25,05^.77 

2,347.79 

132,245.85 

442,364.76 

978, 683. 11 



SEABOARD AND ROANOKE RAILROAD COMPANY. 



139 



STOCKS OWNED. 
A. RAILWAY STOCKS. 



Name. 



R.&; G. R. R. Co 

C. C. R.R.C J— common 

C. C.R. R. Co— preferred 

Ga., Carolina and Northern—common 
Ga., Carolina and Northern— preferred 

S. & R. R. R. Co— common— 

R. & T. R. R. R. Co— common 

C.,N.& L.R.R. Co- common 

Carolina Southern Railway 

S. A.L. Bdt Line R. R.Co 

Southeastern and Atlantic 

S.and Lawrencevile R. R.Co 

Total 



Total 
Par Value 



$74-.'. 
302, 
103, 
536, 
250, 



,200.00 
,700.00 
,900.00 
,700.00 
,000.00 
300. CO 
,000.00 
,001.00 
,000.00 
,97.5.00 
,200.00 
,000.00 



2,061,976.00 



Income 

or Dividend 

Received. 



$7, 50 



7.50 



Valuation. 



$369, 

3, 

20, 

536, 

250 

5 

5, 
3, 

<>, 

10, 



,412.00 
,027.00 
,780.00 
,700.00 
,000.00 
300.00 
, COO. to 
,001.00 
,000.00 
,975.00 
,200.00 
,000.00 



1,234,395.00 



B. OTHER STOCKS. 



Name. 


Total 
Par Value. 

$152,-500.00 
187,600.00 


Rale 
Per 

Cent 

6 
6 


Income 

or Dividend 

Received, 


Valuation. 


Baltimore Steam Packet Co 


$!),120.00 
11,3 > 1.00 


$152,500.00 


Old Dominion S.S.Co 


221,870.00 


Total . 


340,100.00 


2", 474. 00 


374,370.00 


Grand total— A. and B 


2,402,076.00 


20,4S1.50 


1,608,765.00 





EMPLOYEES AND SALARIES. 



Class. 



General administration .. 

Maintenance of way and structures 

Conducting transportation 

Total (including "General ofllcers") 



Number. 



Total 
Number 
of Days 
Worked. 



44 ! 13,772 
122 j 38,186 
427 i ] 33, 651 



15,395 



Total 
Yearly Com- 
pensatl' n. 



$40,177.19 
37, 192. 60 
178,986.32 



Average 
Daily 

Compen- 
sation 



$2. 92 

.97 

1.34 



5,774.30 



1.; 



140 



N. C. CORPORATION COMMISSION 



PASSENGER AND FREIGHT, AND TRAIN MILEAGE— Entire Line. 



Item. 



Passenger Traffic— 

Number of passengers carried earning revenue 

Number of passengers carried one mile — 

Number of passengers carried one mile per mile of road- 
Average distance carried 

Total passenger revenue 

Average amount received from eacti passenger 

Average receipts per passenger per mile 

rotal passenger earnings 

P.^ssenger earnings per mile of road 

Passenger earnings per train mile 

Freight Traffic— 

Number cf tons carried of freight earning revenue 

Number of tons carried one mile 

Number of tons carried one mile per mile of road 

Average distance haul of one ton _. 

Total freight revenue _ 

Average anaount received for each ton of freight 

Average receipts per ton per mile 

Total freight earnings 

Freight earnings per mile of road 

Freight earnings per train mile 

Passenger and Freight— 

Passenger and freight revenue 

Passenger and freight revenue per mile of road 

Passenger and freight earnings 

Passenger and freight earnings per mile of road 

Gross earnings from operation 

Gross earnings from operation per mile of road 

Gross earnings from operation per train mile 

Operating expenses 

Operating expenses per mile of road 

Operating expenses per train mile 

Income from operation . 

Income from operation per mile of road 



Column for 
Tonnage, 

No Passen- 
gers, No. 
Trains, 
Mileage, 
No. Oars. 



147,511 

5,916,608 

62,083 

40.1 



684, 681 

45,989,723 

401,839 

67 



Columns for Revenue 
and Rates. 



Dollars. 



Cents 



m, 313 



116,276 
1,023 



730,160 
1 



r30, 160 
62 



827,^.04 

7,284 
816,437 

7,450 
978, 683 

8,703 

2 

654,360 

5,760 

2 

324, 322 

2,854 



SEABOARD AND KOANOKP: RAILKOAD COMPANY. 



141 



PASSENGEH AND FREIGHT, AND TRAIN MILEAGE— Continued. 



Item. 


Column for 
Tonnage, 

No.Pa«!sen- 

gers, N(». 

Trains, 

Miieag-, 

No. Cars. 


Co umns f * r Revenue 
and Rates. 


Train Mileage— 


126,970 

168,001 

31,513 

" 326,484~ 


Dollars. 


Cents 

— 


Mills. 






IVfilos rn n V»v mi ■ypfl t.rji.ins 


















326, 484 

2,282,912 

1,062,878 

50,857 




Mileage of loaded freight cars--north or east 












Mileage of empty freight cars— south or west 


1,180,936 
35.7 
, 23.6 
12.1 
32.8 
13.9 












Aveiage number of empty cars in train 




Average number of tons of freight in train 






Average number of tons of freight in each loaded car__ 











COMPARATIVE GENERAL BALANCE SHEET. 



June 30, J 898. 


ASSETS. 


YEAK ENDING JUNE 30, 1899. 


Item. 


Item. lucrease. Decrease. 


$2,777,107.56 

305,962.99 

1,575,515.00 

836,077.14 

46,495.69 




$2,889,941.36 ffil 12 8,33.80 






305,962.99 

1,608,765.00 

511,425.00 






Stocks owi:ed 

Bonds owned 

Other ptrmanent investments 

Cash and current assets 


33,250.00 




$324. 652. 17 


46,495.69 
471 066.62 






526,487.84 




55,421.22 









j OTHER ASSETS 

193,417.85 ' Equipment trusts 



31,012.05 
52,694.94 



^44,920.83 



1, 388, 4C 0.00 

3,190,000.00 

159,160.21 

1,603,756.65 



), 841, 316. 1 



Materials and supplies 

Rails rented out 

Grand total 

LIABILITIES. 

Capita! stcck 

Funded debt 

Current liabilities 

Profit and loss 

Grand total 



218,064.40 I 
31,685.45 I 
25,377.14 I 

6,108,783.65 | 



24,647.(5 
673. 40 



27,317.85 
236, 137. 18 



1,38^,400.00 
3,190,000.00 
170,089.32 
1,860,294.33 
6,108,783.65 



10,929.11 



I 243,462.32 
.1 232,588.21 



142 



N. C. CORPORATION COMMISSION. 



Carolina Cer)tral l^ailroad Company, 



DIRECTORS. 



Name of Director. 



John ttkelton Williams 
Robert C.Davidson 

C. Sidney Shepard 

Edward B.Addison 

R. C. Hoffman 

J. Brandon Mattbews _. 

J.C.Stevenson 

G.J. Boney 

J. F. McNair 

D. A. Tompkins 

J. Aug.Jobnson . 



Post office Address. 



Richmond, Va 

Baltimore, Md 

New Haven, Oswego Co. ,N.Y 

Richmond, Va 

Baltimore, Md 

Florence Hou?e, N. Y 

Wilmington, N. C 

Wilmington, N.C 

Wilmington, N.C 

Wilmington, N.C- — 

New York City 



Date of Expiration 
of Term. 



October 
Oct .ber 
October 
October 
October 
October 
October 
Oct -ber 
October 
October 
October 



5,1899 
5, 1899 
5. 1899 
6, 1899 
5, 1899 
5, 1899 
5, 1899 
5, 1899 
5,1899 
5, 1899 
5, 1899 



OFFICERS. 



Title 



President 

First Vice-President 

Secretary and Treasurer 

Attorney, or General Counsel 

Comptroller 

Auditor, General 

Auditor, Receipts 

Auditor, Disbursnoents 

General Manager 

Chief Engineer 

General Superintendent 

Division Superintendent 

Superintendent of Telegraph 

Traffic Manager 

General Freight Agent 

Assistant General Freight Agent- 
General Passenger Agent 



Ni 



John Skelton Williams 

E. St. John 

John H.Sharp 

L. R. Watts 

W. W. Chamberlaine .— . 

J. B.Martin 

J . M. Sherwood 

J. A. Walton 

E.St. J hn 

W. W.Gwathney 

V.E.McBee 

William Moncure 

W. F.Williams ..... 

H.W.B. Glover __„. 

C.R.Capps 

R. I. Cheatham 

L.S. Allen 



Location of Office. 



Richmond, Va. 
Portsmouth, Va. 
Portsmouth, Va, 
Portsmouth, V«. 
Portsmouth, Va. 
Portsmouth, Va. 
Portsmouth,Va. 
Portsmouth, Va. 
Portsmouth, Va. 
Portsmouth, Va. 
Portsmouth, Va. 
Portsmouth, Va. 
Portsmouth, Va. 
Portsmouth, Va. 
Portsmouth, Va. 
Atlanta, Ga. 
Portsmouth, Va. 



CAROLINA CENTRAL RAILROAD COMPANY. 



143 



PROPERTY OPERATED. 



NAME. 


TERMINALS. 


Miles of 

Line for 

Each 

Road 

Named 


Miles of 

Line for 

Each 

Class of 




From— 


To- 


Roads 
Named. 


C R R Co < 


Wilmiugt.D,N.C- 
Nava5sa,N.C 

Navassa,N. C 

Ellenboro,N.C — 


Hilion,N.O 1 

Rutherfordton, N. C — - [ 

Hllion, N.C 

Henrietta, N C. . 




264. 63 


Wilmington Ry. Bridge Co_ 




2.40 
6.40 




1 




Total — - - 


273.43 











CAPITAL STOCK. 



DESCRIPTION. 



Capital stock— com ru on ._. 

preferred _... 

Total 



Number of 

Shares 
Authorized. 



15,000 
5,000 



20, 000 



Par 

Value of 
Shares. 



$100.00 
100.00 



100.00 



Total Par 

Value 

Authorized, 



$1,500,000.00 
500,000.00 



2,000,000.00 



Total 

Amount 

Issued and 

Outstand 

ing 



DIVIDENDS DE- 
CLARED DURING 
YEAR. 



Rate. 



$1,500,000.00 
500,000.00 



2,000,000.00 



Manner of Payment for Capital 
Stock. 



Issued for construction— common ... 

Issued for reorganization— common. 

preferred. 

Total 



Number of 
Shares Issued 
During Year. 



8,000 

5, o:o 

8,000 



Cash Real- 
ized on 
Amount Is- 
sued During 
Year. 



Total Num-^ 

ber Shares Total Cash 
Issued aud Realized. 

Outsianding. J 



12,000 
3,000 
5,000 



20,000 



$1,200,000.00 



1,200,000.00 



FUNDED DEBT. 
MORTGAGE BONDS. MISCELLANEOUS OBLIGATIONS, AND INCOME BONDS. 





TIME. 


Amount of 

Authorized 

Ist-ue. 


Amount 
Issued. 


Amount 
Outstanding. 


Cash Real- 


CLASS OF BOND OR 
OBLIGATION. 




U 


ized on 
A^mount 

Issued. 


First mortgage 


Jan 

1899 


1949 


$3,000,000.00 


$3,000,000.00 


$3, 000, 000. CO 









144 



N. C. CORPORATION COMMISSION, 
FUNDED DEBT— Continued. 







INTEREST. 




cijASS of bond or obligation. 


Rate 

Per 

Cent 


When 
Payable. 


Amount Ac- 
crued During 
Year. 


Amount 
Paid Dur- 
ing Year. 




4 


Jan. & July. 


$103,040.00 


$103,040.00 





RECAPITULATION OP FUNDED DEBT. 



Class of debt— mortgage bonds— amount ibt-ued 

Amount outstanding 

Interest— amount accrued during y^ar 

Amount paid during year 



$3,000,000.00 

3,000,000.00 

103, 040. CO 

103,0^0.00 



CURRENT ASSETS AND LIABILITIES. 



Cash. 



Bilis receivable 

Due ficm solvent companies and individuals . 

Other cash assets 

Total— cash and current assets 

Balance— current liabilities 

Total 



LIABILITIES. 



Loans and bills payable 

Audited vouchers and accounts. 

Wages and sa'aries 

Total current liabilities 

Total 



$';0, 744. 93 

998. 67 

40,211.56 

4,004.00 



tio,959.)6 
109,976.75 
175,93o.91 

122,129.84 
38,511.86 
15,294.21 
175,935.91 
175,935.91 



Materials and supj lies ou hand, $11,267.01. 

RECAPITULATION. 
A. FOR MILEA^GE OWNED. 



ACCOUNT. 


Ti)tal 

Amount 

Ouistanding. 


Apportion- 
ment U) 
Railroads. 


AMOUNT PER 


MILE OF LINE. 




Miles. 


Amount. 


Capital stock 


$2,000,000.00 
3,00 ,000. CO 


12,000,000.00 
3,000,000.00 


271.03 
271.03 


$7,379.00 
11,069.00 


Bonds - 




Total 


5,000,000.00 


5,000,000.00 


271.03 


18,418.00 







CAROLINA CENTRAL RAILROAD COMPANY. 



145 



RECAPITULATION— Continued. 
B FOR MILEAGE OPERATED. 



Name of road— C, 0. E. K . Co. 

Capital stock 

Funded debt 

Total 

Number miles of road-.. 
Amount per mile of line. 



$2, (00, 000. 00 

M, 000, 000. GO 

5,000,000.00 

271.03 

18.448.00 



OPERATING EXPENSES. 



Maintenance of way and structures 

Maintenance of equipmeiit 

Conducting transportation 

General expenses 

Grand total 

Percentage of operating expenses to earnings. 



flip, 217.35 
41,803.52 

312,119.27 
Cti, 248. 14 



501,888.28 



":^. 75. 4 



COMPARATIVE GENERAL BALANCE SHEET. 



JUNK 30,1898. 



Item. 



85,605,207.19 

338,623.37 
98,OUO.0O 
34,817.91 

239,841.62 
18,501.66 

10,49^.14 

530,091.13 

6,87M77.02 



1,20 ',000. 00 

5,250,000.00 

232,497.02 

193,680.00 

6,876,177.02 



Ccstof road 

Cost of equipment 

Bonds owned 

Other permanent investments— - 
Other permanent improvements 
Cash and current assets 

OTHER ASSETS. 

Materials and supplies 

Profit and loss 

Grand total 

LIABILITIES. 

Capital stock 

Funded debt 

Current liabilities 

Certificates of indebtedness 

Grand total 



YEAR ENDING JUNE 30, 1899. 



Item. 



S4, 8 16, 306. 15 
170,079.11 



65, 959. 11) 



11,267.04 
82,324.45 



Increase. Decrease. 



170,935.91 



2,000,(00.00 

3,000,000 00 

175,935.91 



8758,901.04 

l(i8, 544.26 
98, 000. 00 
31,817.91 

239,841.62 



$47,457 



772.90 



800,000.00 



5,175,935.91 



4J8,366.68 
1,700,241.11 



2,2:0,000.00 

56,561.11 

193,680.00 

1,700,241.11 



-10 



146 



N. C. CORPORATION COMMISSION. 



EARNINGS FROM OPERATION. 



Item. 



Total 
Receipts 



Passenger— 

Passenger revenue 

Less repayments- 
Tickets redeemed 

Excess fares refunded 

Total deductions 

Total passenger revenue 

Mall 

Express . 

Extra baggage and storage 

Other items 

Total passenger earnings 

Freight— 

Freight revenue 

Less repayment**— 

Overcharge to shippes 

Other repay inents 

Total deductions 

Total freight revenue — 

Other items 

Total freight earnings 

Other Earnings from Operation— 

Switching charges— balance 

Telegraph companies 

Rents not otherwise provided for 

Other sources 

Total other earnings 

Total gross earnings from operation. 



$168,032.20 



1,162.25 
213.20 



Deductions, 

Account of 

Repayments, 

etc. 



$1,375.45 



454,827.23 

3,846.44 
6,054. "6 



9, 900. 60 



Actual 
Earnings. 



S166,6b6.75 

26,160.69 

13,160.21 

2,511.81 

3!7.74 



208,807.20 



-141,926.63 
4,720.81 



419,647.44 



282.41 
2,115.99 
4,624.01 

577.76 



7,600.23 
666, 054. 87 



MISCELLANEOUS INCOME. 



Item. 


Gross Income. 


Net 

Miscellaneous 

Income. 


Outside rents - - 


$400.00 
880. 69 


$400.00 
880. 69 








Total 




1,280.69 











CAROLINA CENTRAL RAILROAD COMPANY. 



147 



COST OF ROAD, EQUIPMENT, AND PERMANENT IMPROVEMENTS. 



Amount. 



*Construction charged to income account- expenditures during year 

Total cost construction to June 30, 1898 

Total cost coDstructlon;to June 30, 1899 

Total cost construction per mile 



S758,901.04 

5,605,207.19 

4,846,306.15 

17,881.07 



Total equipment ! S!168,544.26 

Total construction 



EXPENDITURES DURING 
YEAR, NOT INCLUDED IN 
OPERATING EXPENSES. 



Charged to 
Income Ac- 
count as 
Permanent 
Improve- 
ments. 



Charged to 
Construc- 
tion or 
Equ pment. 



Total Cost I Total C^st 

to June 30, ' to June 30, 

1898. ! 1899 



Cost Per 
Mile. 



$338,623.37 ' $170,079.11 $627.54 



$758,901.01 : 5,605,207.19 : 4,846,306.15 



Grand total cost construction, 
equipment, etc. 



*758,901.04 



,544.26 5,943,830.56 , 5,016,385.26 



17,881.07 



18,508.61 



''D^crea^e. 



INCOME ACCOUNT. 



Grc.'ss earnings from operation 

Less operating expenses 

Income from operation , 

Miscellaneous income less expenses 


$666,054.87 




501,8S8.28 


$ 64, KiH. .59 


1.280.fi9 


1,280.69 




103,010.00 
3,100.50 
17,771.37 
5,:^33.59 






165, 4 i7. 28 


Deductions from Income— 

Iniere>toD funded debt accrued 

Interest on interest-bearing current liabilities accrued 

Taxes 


Other deductioas 


... 


Total deductions from income . 




120,8 1.4H 


Net income 




35 ■'jH'-' 82 








Surplus from operation of year ending June 30 1899 


35 o'.lj S2 


Deficit on June 30, 1898 [from " General Balance Sheet," 1S93 




r)30 Onj. 13 


Repjrt]. 
Additions for year, sale ot bonds, etc 

Deductions for year, readjustment of capital, etc _. 






47,450.93 
495,817.61 








Deficit on June 30, 1899 [for entry on "General Balance Sheet"] 


82,324.45 







148 



N. C. CORPORATION COMMISSION. 



PASSENGER AND FREIGHT, AND TRAIN MILEAGE. 



Item. 



Columu for 
T* nuaye, 

No Passen- 

gprt<, No. 

Trains 

Mileige, 

No. Cars 



Columns for Revenue 
and Rates. 



213,905 
64.>,808 
27, 995 
35.729 



Passenger Traffic— 

Numb<-'r of passengers carried earning revenue 

Number of passengers carried one mile 

Number of passengers carried one mile per mile of road 

Average distance carried 

Total passenger revenue 

Average amount received from each passenger 

Average receipts per passenger per mile 

Total passenger earnings „ j 

Passenger earnings per mile of road I 

Passenger ea'-nings per train mile 

Freight Traffic— 

Number of tons carritd of freight earning revenue 504,462 

Number of tons carried one mile | 31,861,714 



Dollars. 



$1^6,6)6 



208,807 
76! 



Number of tons carried one mile per mile of road. 

Average distance haul of one ton 

Total freight revenue 

Average amount received for each ton of freight.. 

Average receipts per ton per mile 

Total freight earnings 

Freight earnings per mile of road 

Freight earnings per train mile 

Passengfr and Freight— 

Passenger and f eight revenue 

Passenger and freight reveoue per re ile of load _— 

Pas«ei ger and f eight earnings 

Passenger and freight earnings per mile of road.__ 

Gross earnings from operation 

Gross earnings from operation per mile of road — 

Gross earuings from operation per train mile 

Operating expenses 

Operating expenses per mile of road 

Operating expenses per train mile 

lucome from operation 

Income from operation per mile of road.: 



,538 
63 



Cents\ Mills. 



449,617 
1,644 

1 

611,583 

2,2-16 
658,454 

2,403 
66fi, 05 i 

2,436 

1 

5 1,888 

1,835 



161,166 
600 



CAROLINA CENTRAL RAILROAD COMPANY. 



149 



PASSENGER AND FREIGHT, AND TRAIN MILEAGE— Continued. 



Item. 


Column for 
Tonnage, 

No. Passen- 
gers, No. 
Trains, 
Mileage, 
No. Cars. 


Columns for Revenue 
and Rates. 


Train MiiiBAGE— 


266,353 

258, 161 

-1,960 


Dollars. 


Cents 


Mills. 


Miles run by freight trains _. _ . 




Miles run by mixed trains. 





■ I 




1 


Total mileage trains earning revenue 

Mileage of loaded, freio'ht cars— north or east 


529, 474 
1,418,711 
1,738,994 
560,359 
315, 673 
25.9 
19.5 
6.4 
20.3 
10.4 


i 
1 




Mileage of loaded freight cars— south or west 




._.._. 




Mileage of empty freight cars — north or east 






Mileage of enc pty freight cars— south or west 




Average num^jer of freight cars in train 

Average number of 1 adec cars in train. 




~ — 




Average number ot empt> cars in train 

Average number of tons of freight in train 


1 




Average number of tons of freight in each loaded car 


1 






1 





FREIGHT TRAFFIC MOVEMENT. 



Commodity. 



Products of Agriculture— 

Grain 

Flour 

Hay 

Tobacco 

Cotton 

Fruit and vegetables 

Products of Animals— 

Livestock 

Other packing house products 

Poultry, game and fish 

Wool 

Hides and leather 



Freight 

Originating 

on this 

Road. 



WIiGle Tons. 
427 
445 



8,827 
213 

384 

157 

11 

11 

46 



Freight 
Received 
from Lon 

necting 

Ruads and 

other 

Carriers. 



Whole Tons 
11,876 
8,321 
1,815 
2,589 
28,005 
1,516 

3,551 

5,323 

56 

110 

757 



Tolal 
Freight Tonnage. 



'/iole Tons 
12,303 
8,766 
1,894 
2,788 
36,832 
1,729 

8,935 

5,480 

67 

121 

. 803 



Per Cent. 

2.44 

1.74 

.37 

.55 

7.30 

.34 



150 



N. C. CORPORATION COMMISSION. 



FREIGHT TRAFFIC MOVEMENT— Continued. 



Commodity. 



Products of Mines-- 

Bituminouscoai 

Coke 

Ores 

Stone, sand, and other like articles . 

Products of Forest— 

Lumber 

Manufactures— 

Petroleum and other oils 

Sugar 

Naval stores 

Iron, pig and bloom 

Other castings and machinery 

Bar and sheet metal 

Cement, brick and lime 

Agricultural implements 

Wagons, carriages, tools, etc 

Wines, liquors and beers 

Household goods and furniture 

Cotton factory products 

Merchandise 



Freight 

Originating 

on this 

Road. 



Whole Tons. 



Miscellaneous: Othercommodities not men- 
tioned above. 



Total tonnage in North Carolina 
Total tonnage— entire line 



1,935 



1,701 

422 
7,547 



138 

151 

934 

174 

131 

125 

220 

15,972 

64,688 

33,084 



174.801 



174, 804 



Freight 
Received 
from Con- 
necting 
Roads and 
other 
Carriers. 



Whole Tons 

36,921 

46 

9 

6,931 

22,811 

5,615 

3,670 

519 

27,936 

2,142 

1,322 

3,337 

423 

808 

1,075 

1,067 

19,309 

79,587 

52,211 



Total 
Freight Tonnage. 



Whole Tons. 

36,921 
46 
9 

8,866 

59,771 

7,319 

4,092 

8,066 

27,936 

2,280 

1,473 

4,271 

597 

939 

1,200 

1,287 

35,101 

144, 275 

85,295 



Per Cent. 

7.32 
.01 



329, 658 



504, 462 



,658 



504,462 



1.75 

11.85 

1.45 
.80 
1.60 
5.58 
.45 
.29 
.84 
.12 
.18 
.24 
.25 



16.90 



100.00 



100.00 



E&IFLOYEES AND SALARIES. 



Class. 


Number. 


Total 
Number 
of Days 
Worked. 


Total Yearly 
Compensa- 
tion. 


Average 
Daily 

Com pen- 
sation. 


General administration 

Maintenance of way and structures 


35 

216 
257 
508 


10,955 

67,608 


$28,371.46 
49.524.45 


$2.59 
.78 


Conducting transnortation — 


80,441 102,568.59 


1.28 






Total (including "General Officers") 


159,004 


180,464.50 


1.13 



DURHAM AND NORTHERN RAILWAY COMPANY. 



151 



Durham and Northern F^ailway Company. 



DIRECTORS. 



Name of Director. 


Post-office address. 


Date of Expiration 
of Term. 


L A.Carr _ 


Durham, N.C — 


November 9,1899. 


G.W. Watts - - _ 




November 9,1899. 


D. Y.Cooper _ - ._ 


Henderson, N.C— - - -- - — 


November 9, 1899. 




Raleifh,N.C _- . 


November 9,1899. 


L.R. Watts - 


Portsmouth , Va 

Durham, N.C 


November 9,1899. 


W.H.Branson 


November 9,1899. 









OFFICERS. 



Title. 



Name. 



Location of Office. 



Chairman of the Board 

President 

First Vice-President 

Secretary 

Treasurer 

Attorney, or General Counsel 

Comptroller 

Auditor 

Auditor,! isbursements 

Auditor, Receipts 

General Manager 

Chief Engineer 

General Superintendent 

Division Superintendent 

Superintendent of Telegraph 

Traffic Manager 

General Freight Agent 

Assistant General Freight Agent 
General Passenger Agent 



R.C.Hoflfman 

R.C. Hoflfman 

E.St.John 

J. M. Sherwood 

J.H.Sharp 

L.R. Watts 

W. W. Chamberlaine 

J. B. Martin 

J. A. Walton 

J. M . Sherwood 

E.St.John 

W. W . Gwathney, Jr . 

V.E. McBee 

T.W.Whisnant 

W.F.Williams 

H.W.B. Glover 

C. R. Capps 

R. I. Cheatham 

L.S.Allen 



Baltimore, Md . 
Baltimore, Md. 
Portsmouth, Va. 
Portsmouth, Va. 
Portsmouth, Va. 
Portsmouth, Va. 
Portsmouth, Va. 
Portsmouth, Va. 
Portsmouth , Va . 
Portsmouth, Va. 
Portsmouth, Va. 
Portsmouth, Va. 
Portsmouth, Va. 
Portsmouth, Va. 
Portsmouth, Va. 
Portsmouth, Va. 
Portsmouth, Va. 
Atlanta, Ga. 
Portsmouth , Va . 



152 



N. C. CORPORATION COMMISSION. 



PROPERTY OPERATED. 
Durham, N.C., to Henderson, N. C 41.40 miles. 



CAPITAL STOCK. 

Number of shares authorized 

Total par value authorized 

Amount issued and outstanding 

•Capital stock per mile 

2 per cent dividend declared during year. 



5,000 

S50 ,000.00 

190, IL 0.00 

7,007.00 



FUNDED DEBT. 

First mortgage bonds- -issued 1888— due 1928 

Amount issued $150,000.00 

Cash realized 1^5. H4 . 52 

Kate of interest 6 per cent, payable May and November. 

Funded debt per mile 3,6J3.00 



COST OF ROAD, EQUIPMENT, AND PERMANENT IMPROVEMENTS. 

Total equipment , 

I 
Total cost construction '■ 

^- ■■■' - i 

Total cost construction, equipment, etc. 

Cost per mile.- 



r6,312.56 

415,750.44 

442,063.00 

10,677.85 



CURRENT ASSETS AND LIABILITIES 

ASSETS. 

Cash 

Due from solvent companies 

T(jt 1 1 assets 

I^IABILITIBS. 

Audited vouchers and accounts 

Wages and salaries 

Net traffic balancers due to other companies 

Balance— cash assets 

Total 



$23,0:^6.08 


21,325.23 


44,381.31 


3,926.83 


1,964.73 


15,470.43 


22,999.32 



44, 



1.31 



DURHAM AND NORTHERN RAILWAY COMPANY. 
EARNINGS FROM OPERATION. 



153 



Item. 



Total 
Receipts. 



Passenger— 

Passenger revenue 

Less repayments- 
Tickets redeerr ed 

Excess fares refunded 

Total deductions 

Total passenger revenue 

Mail 

Express 

Extra baggage and storage 

Other items— News Co 

Total passenger earnings 
Freight— 

Freight revenue 
Less repay raents— 
Overcharge to shippers 

Other repayments 

Tolal deductions 

Total freight revenue 

Total freight earnings 

Total passenger and freight earnings ._. 
Other Earnings from Operation— 

Switching charges — balance 

Telegraph companies 

Rents not otherwise provided for 

Other sources— demurrage 

Total other earnings 



$9,312.97 



Deductions, 
Account of Actual 

Repayments, Earnings, 
etc. 



69.22 

5.55 



i$74.- 




Total gross earnings from operation- 
North Carolina. 



437. 5(5 

42.46 

603.00 

1.00 



69,0-2.79 



69,022.79 



81,018.76 



1,086.02 
82,104.78 



MISCELLANEOUS INCOME. 



Gross income— interest received. 



1324.22 



RENTALS PAID. 
B. RENTS PAID FOR LEASE OP OTHER PROPERTY. 
Situation of property leased— Durham, N. C —name of company owning property 
leased, W.F.Morris Manufacturing Company 



$200.00 



154 



N. C. CORPORATION COMMISSION. 



OPERATING EXPENSES. 

Maintenance of way and structures 

Maintenance of equipment 

Conducting transportation 

General expenses 

Total 

Percentage of expenses to earnings— North Carolina 



$14,687.25 

10,387.36 

34,769.67 

2,771 22 

62,615.50 

76.3 



EMPLOYEES AND SALAEIES, 



<Jlass. 


Number. 


Total Number 
of Days 
Worked. 


Total 
Yearly Com- 
pensation. 


Average 
Daily Com- 
pensation. 


General administration ___ 


18 
20 
40 


5,634 
6,260 
12,520 


$2,0o0.16 
5, 515. 39 
18,061.37 


$0.54 


Maintenance of way and structures 

Conducting transportation 


.88 
1 44 






Total (including "General Officers") 


78 


24,414 


26,606.92 


i.oy 



INCOME ACCOUNT. 

Gross earnings from operation $82, 104.78 

Less operating expenses 62, 615. 50 

Income from operation 

Miscellaneous income— less expenses —. 324.22 

Income from other sources '< 

Total Income : 

Deductions from Income— 

Interest on funded debt accrued 9,000.00 

Taxes i 1,634.55 

Other deductions — loss in fuel 1 24.96 

Total deductions from income 

Net income 

Dividends, 2 percent, common stock 5,802.00 

Total 

Surplus from operations of year ending June 30, 1899 1 

Surplus on June 30, 1898 [from " General Balance Sheet," 1898 \ 

Report]. I 

Surplus on June 30, 1899 [for entry on "General Balance Sheet "] — i 



$19,489.28 



324.22 



19,813.50 



10,659.51 
9,153.99 



5,892.00 



3,351.99 
22,922.83 



26,274.82, 



DURHAM AND NORTHERN RAILWAY COMPANY. 



155 



COMPARATIVE GENERAL BALANCE SHEET. 



JUNE 30,1898 


ASSETS 


YEAR ENDING JUNE 30, 1899. 


Item. 


Item. 


Increase 


Decrease. 


$115,750.44 


Cost of road 


$415,750.44 
26,312.56 
44,361.31 

1,312.50 






26,312.56 
34,028.88 


Cost of equipment. -„ 

Cash and current assets. 






810,332.43 
83.38 




1,229.12 


OTHER ASSETS. 

Materials and supplies 






Grand total _. 




477,321.00 


487,736.81 


10,415.81 






LIABILITIES. 

Capital Stock 




29P, 100.00 


290,100.00 
150,000.00 
21,361.99 

26,274.82 






150,000.00 


Funded debt _. .. 






14, 298. 17 


Current liabilities 


7,063.82 
3,851.99 




22,922.83 


Profit and loss 




Grand total 




477,821.00 


487,736.81 


10,415.81 









156 



N. C. CORPORATION COMMISSION. 



Georgia, Carolina aod Northern F^ailway 
Company. 



DIRECTORS. 



Name of Director. 



R.F. Hoke 

R.C.Hoffman 

John Oliver 

Dan. D. Dougherty 

W.R.Tucker 

W.G. Michael 

J.F. Rhodes 

J. K. Devest 

McA-lpiue Arnold 

R.J. Lowry ' Atlanta, Ga 

S.M. Pickens Elberton,G: 

S. M.Jones Ch- stei-,si.C 



Post-office Address. 



Date of Expiration of 
Term. 



Raleigh, N.C November ]0Lb,1899 

Baltimore, Md November 10ih,1899 

Atlinta,GA NovemberlOlh, 1899 

Atlanta, Ga Novemi^er 10, h, 1899 

Deceised November 10lh,1899 

I 
Aiheus, Ga November 10th, 1899 

Alhen(.,G,ot November 10th, 1899 

Greenwood November 10lh,1899 

Elberion,Ga N-vember 10Lh,1899 

; November 10th, 1899 

; N<ivember 10th, 1899 

; November 10th, 1899 



W. A.Shandos 



Clinton,S. C ' November 10th, 1899 



OFFICERS 



Title. 


Name, Location of Office. 

1 


Chairman of the Board 


R.F.Hoke J Raleigh, N.C 


President _ 


R.F.Hoke — Raleigh, N.C. 


First Vice-1'resid.ent 

Secretary 

Treasurer 


R.C.Hoffman Baltimore, Md. 

J.M.Sherwood Portsmouth, Va. 

John H.Sharp _ Portsmouth, Va. 



PROPERTY LEASED. 

From Monroe, N.C. to Atlanta, Ga ,266. 10 miles. 



GEORGIA, CAROLINA AND NORTHERN RAILWAY COMPANY. 



157 



CAPITAL STOCK. 

Capital stock, common— number of shares authorized 

Par value of shares 

Total par value authorized 

Total amount issued and outstanding 

Preferred number of shares 

Am.ount outstanding 

MANNER OF PAYMENT FOR CAPITAL, STOCK. 

Issued for cash, common— total number shares issued and outstanding 

^ Issued for ca^h preferred — . 

Cash realized— common . 

Cash realized —preferred 

FUNDED DEBT. 

First mortgage bonds— amount issued— date July. 1889— due 19-9 

Amount outstanding 

Interest at 5 per cent— amount accrued and paid duiing year 



17,500 

$100.00 

,750,000.00 

,111,400.00 

500 

500, 000. 00 

11,114 

5,000 

535,400.00 

500,000 



$5,3(30,000.00 
5,' 611,000.00 

'JfnS.OOO.OO 



RECAPITULATION. 





Total AmouQt 
Outstanding. 


Apportionrrent 
tu Railroads. 


AMOUNT PER MILE OF LINE. 




Miles. 


Amount. 


Capital stock _ . . 


$1,611,400.00 
5,860,000.00 


$1,611,400.00 
5,360,000.00 


266. 10 
266. 10 


$6 056.00 


Bonds 


20, iW.CO 


Total 


6,971,400.00 


6,971, 400. CO 


266. 10 


i;6, 198. 00 







CURRENT ASSETS AND LIABILITIES. 



ASSETS. 

Cash 

Due from solvent companies 

Cash assets 

LIABILITIES. 

Wages aud salaries .^ 

Miscellaneous 

Balance cash asseis 



$28,385.48 
32,564.96 



iO,950.44 



240.26 


2,028.58 


58, 610. 60 


60,950.44 



158 N. C. CORPORATION COMMISSION. 

COST OF ROAD, EQUIPMENT AND PERMANENT IMPROVEMENTS. 



Item. 


Expenditures 
During Year. 


Total Cost to 
June 30, 1898. 


Total Cost to 
June 30, 1899. 


Cost Per 
Mile. 


Total equipment 




$143,477.58 


$145,477.58 


$5 466 23 








Grand total cost construction, 
equipment, etc. 

Total cost construction, equip- 
ment, etc —State of N.C. 


$3,300.22 


6,514,102.90 


6,517,413.12 
323,915.43 


29,411.79 
29,411.79 







INCOME ACCOUNT. 



Income from lease of road 






$32-1, '.io?. 72 


Miscellaneous income— less expenses 


$57 


51 




Income from other sources . . -. . 




57. 54 








Total income _._ .._ . 


321,315.26 


Deductions from Income— 










671 


Y" 






2()8, 000- no 




Total deductions from income _. _ 






268,671.75 








Net income 


55,613.51 


Surplus from operations of year ending June 30, 1899 







5\ 613.51 


Deficit on June 30, 1898 [from '• General Balance Sheet," 1898 
Report]. 


4 lO, 948. 79 








55,643.51 






- 




Deficit on June 30, 1899 [for entry on "General Balauoe Sheet"] _ 


.•ii)5, :;0o. 28 



COMPARATIVE GENERAL BALANCE SHEET. 



June 30, 1898. 


ASSETS. 


YEAR ending JU^E 30, 1899 


Item. 


Item. 


Increase. 


Decrease. 


$6,3«8,6 5.32 

145,477.58 

16,812.37 

450,948.79 




$6,371,935.54 
11 ,477.58 
60,950.44 

39 ,305.28 


$3, 300. 22 
44, 138.07 




Cost of eo uipment 




Cash and current assets — .. 




OTHER ASSETS. 

Profit and loss - 


$55, 64 -.51 






6,981,874.06 


6,973,«i68.84 




8, 205. 22 


LIABILITIES. 

Canital stocli 




1 611 400 00 


1,611,400.00 

5,360,000.00 

2,268.84 






5,360,000.00 
10,474.06 


Funded debt 







Current liabilities 


8, 20i. 22 






6 981 874 06 


6,973,668.84 




8,205.22 









GEORGIA, CAROLINA AND NORTHERN RAILWAY COMPANY. 



159 



Georgia, Carolina and Nortiiern R^ailWay Conn 
paoy — CoQtinued. 



Lessee's Report of Operations. 
PROPERTY OPERATED. 





TERMINALS. 


Miles of Line 

tor eaeii 
Road Named. 


NAME, 


From— 


To~ 


Seaboard Air Line Belt Railroad 


Belt Junct'n,Ga 

Logan ville 

Monroe, N.C -— 
Wando,Ga 


Wando, Ga 

Lawrenceville — 

Inman Park,Ga 

Union Pass Sta 
tion,Atianta,Ga 


8.10 


L.andL.R.R 

Georgia, Caroliiiaand Northern Railway- 
Western and Atlantic Railroad 


10.33 

266.10 
3 


Total -„ 


287.53 











14.30 miles in North Carolina, 



CURRENT ASSETS AND LIABILITIES. 



ASSETS. 

Cash- „. „ 

Due from solvent companies and individuals 

Net traffic balances due from other companies 

Total— cash and current assets 

Balance— current liabilities 

Total . 

LIABILITIES. 

Audited vouchers and accountss..^ . 

Wages and salaries . 

Miscellaneous 

Total -current liabilities 

Total 

Materials and supplies on hand, $18,815.07 



.P2,926.56 
49,232.88 
52,889.00 



135,018.44 
18,815.07 



153, 8{)3. 51 



43,230.41 

26,200.21 
84,432,89 



160 



N. C. CORPORATION COMMISSION. 



EARNINGS FROM OPERATION. 



Item. 



Total 
Receipts. 



Deductions, 
Accountof Re 
payments.etc. 



Actual 
Earnings. 



PASSENGER— 

Passenger revenue 

Less repayments — 
Tickets redeemed 

Excess fares refunded 

Other repayments . 

Total deductions 

Total passenge r revenue 

Mail 

Express 

Extra baggage and storage 

Other items 

Total passenger earnings 

Freight— 

Freight revenue 

Less repayments — 

Overcharge to shippers 

Total deductions 

Total freight revenue 

Total freight earnings —.. 

Total passenger and freight earnings 

Other Earnings from Operation— 

Telegraph companies 

Rents from tracks, yards, and terminals 

Rents not Gtheiwi?e provided tor 

Other sources 

Total other earnings 

Total gr<'Ss earnings from operation— N. C. 

Total gross earnings from operation— en- 
tire line. 



$281,969.35 

403.75 

551.23 

29 



$955. 27 



615,057.59 



12,441.18 



12,441.18 



$2^],014.0a 

38,794.74 

L\()04.69 

1,952.80 

481.39 



3 M, 847. 70 



632,t)16.41 



632,616.41 



967,464.11 

941.91 

17<i.00 

2, 433. 96 

472. 27 



4,020.14 

48, 282. 77 



97],4!<4.25 



RENTALS RECEIVED. 
Use of tracks for train service during washout 



S172. 00 



MISCELLANEOUS INCOME. 



Interest received 



$240.02 



GEORGIA, CAROLINA AND NORTHERN RAILWAY COMPANY. 



161 



INCOME ACCOUNT. 



Gross earnings from operations _ - - 


$971 , 484. 25 




Less operating expenses _ - 


79i:i,764.05 








Income from operation _ 




$174,7-J0.20 


Miscellaneous income — less expenses 


240.02 




Income from other sources _ _ 


240. 02 


Total income - 




174,960.22 


Deductions from Income— 








45, 03',. 59 
64,963.32 




Permanent improveonents— one-half net balance paid S.& R. 
R.Co. 






Other deductions— one-half net ba'ance paid R.& G. R.R.C<>— 


64,96^.31 




Tutal deductions from income 




174,960.22 









OPERATING EXPENSES. 

Operating Expenses— 

Maintenance of ways and structures 

Maintenance of equipment 

Conductin g transportation „ 

General ex penses . 

Grand total 

Operating Expenses— State of North CaroLiIna 

Maintenance of way and structures 

Maintenance of equipment 

Conducting transportation 

General expenses 

Total 

Percentage of expenses to earnings — North Carolina 



S14i,5"!i!.i5 


52,835.53 


567,791.42 


34,578.95 


796,764.05 


39,59^.17 


7, 035. 44 


2,(i25.93 


2S, 2 1 9. ':3 


1.71«..-)7 


39,599.17 


>s2 



COMPARATIVE GENERAL BALANCE SHEET 

Cash and current assets 

Materials and supplies 

Current liabilities 

2 11 



$135,018.44 

18,815.07 
153,8().i.51 



162 



N. C. CORPORATION COMMISSION. 



PASSENGER AND PREIGHT, AND TRAIN MILEAGE— Entire Line. 



Item. 



Column for 

Tonuage, 
No.Fassen 
geis. No. 
Trains, 
Mileage, 
No. Cais. 



Columns for Revenue 
and Rite*. 



Passenger Traffic — 

Nuiiiber cf passenjaers carried earning revenue 

Number of passeu^ers carried one mile 

Num ber of passengers carried one mile per mile of road 

Average distance carried 

Total pas^senger revenue 

Average amount received from each passenger 

Averfige receipts per passenger per ncile 

Total pas-setiger earnings 

Passtnger earnings per mile of road . 

Passenger earning* per train mile 

Freight Traffic— 

Nun)berof tons carried of freight earning revenue 

Number of tons carried one mile 

Number of tons carried one mile per mile of road 

Average distance haul of oae ton 

Total freight revenue 

Average amount received for fach ton of freight 

Average receipts per ton per mile r. 

l\>tu\ freight earnings 

Freight earnings per mile of road 

Freight earnitgs per train mile 

Passenger and Freight— 

Pas-eager and freight revenue 

Passenger aud freight revenue per mile of road 

Passenger and freight earnings - 

Pa^senger and freight earnings per mile of read 

Gross farniDgs from operation 

Gross earnings from opeiation per mile of road 

Gross earnings from operation per train mile 

Operating expenses 

0{ erating expenses per mile of road 

Opeiatiug expenses per train mile 

lucome irom operation : 

Income from operation per mile of road 



Dollars. Cents] Mills. 



187,533 
15,003,382 
52. 187 
80.015 



$281,014 1 08 ' 

1 I -19 j 848 

.-_. .... j 01 873 

834,847 I 70 I 

l,16l| 57 
I 72 



428, 332 

65,399,914 

227, 454 

152 



913,630 : 

3,177 j 
967,46) I 

3,364 I 

I 

971,484 I 

3,378 I 
1 
796,764 , 
2,771 j 



174,720 



49 
5, I 

11 i 

74 I 
25 
72 
09.1 
05 
06 i 
SO 
20 . 



815 



632,616 I 41 j 

1 ! 47 ! U9J 

I __-. i 167 

632,616 I 41 I 

2,200 I 17 532 

1 i ; 068 



::,61 



145 



308 
096 



406 
415 



607 i m 



GEORGIA, CAROLINA AND NORTHERN RAILWAY COMPANY. 163 

PASSENGER AND FEEIGHT, AND TRAIN MILEAGE— Continued. 



Item. 



Train Mileage— 

Miles run by passenger trains 

Miles run by freight trains 

Miles run by mixed trains 

Total mileage trains earning revenue 

Mileage of loaded freight cars— north or east 

Mileage of loaded freight cars— south or west 

Mileage of empty freight cars— north ortast 

Mileage <: f empty freight cars— south or -west 

Average number of freight cars in train ^ 

Average number of loaded cars in train 

Average number of empty cars in train 

Average number of tons cf freight In t-ain 

Average number of tons cf freight in each loaded car.- 



Column for 
Tonnage, 

No. Passen- 
gers, No. 
Train?, 
Mileage, 
2^0 Cars. 



458, 
416, 



153 

994 




881, 
8,556, 
2,169, 

242, 
1,570, 



227 

627 

377 

145 

524 
23.8 
17.2 
6.6 
2L5 
12.5 



Columns for Revenue 
and Rates. 



Dollars. 



Cents 



Mills. 



RENTS PAID. 
B. RENTS PAID FOR LE VSE OF TRACKS, YARDS, .\ND TERMINALS. 



Designation of 
Property. 


Sltuatif n of Property 
Leased. 


Name of Company Own 
ing Property Leased. 


Item. 


Total. 


Tracks— 

Trackage r ghts for 
passe iger trains. 

Total 


Wando, Ga , to Union 
Passenger Station, At 
lanta,Ga. 


N.C. &St. L. Railway, 
Lessees W.St A.R.R. 




$5,000.00^ 
5,000.00 




Atlanta, Ga 


N. C. & St L. Railway 




Yards— 

Depot for passenger 
trains. 




7,500.00 






Total- - 




7,500.00 










Grand total rents— B 




12,500.0a 











164 



N. C. CORPORATION COMMISSION. 



HoanoKe and Tar River Railroad CompaQy 



Terminals. 



Virginia and North Carolina State iii e to Lewiston- 



Miles. 



32.30 



Prof erty leased to and operated b> Seaouard and Roanoke Raiiro^id Company, ai u » perntions 
included in the reportof that company. 



CAPITAL STOCK. 

Number of shares authorized— common—. 

Par value of shares 

Total par value authoiized 

Total amount issued and outstanding 



15,000 
:fl00.00 

1,500, COO. 00 

5i,r,oo.oo 



FUNDED DEBT. 

First mortgage— date of issue 1887— due 1917. 

Amount issued and outstanding, $260,000. 

Interest at 6 per cent— amount $15, 600— payable April and October. 



CURRENT ASSETS. 
Cash - $i, 18?- 10 



RECAPITULATION. 





Total 

Amount 

Outstanding. 

$5], 500. 00 
260,000.00 


Apportion- 
.ment to 
Railroads. 


AMOUNT PER MILE OF LINE. 


ACCOUNT. 


Miles. 


Amount. 


flnnitnl st.Of^k - 


$51,50\00 
260,000.00 


32.3 
32.3 


^1,594.00 


Bonds - - 


8,050.00 




1 


Total 


311,500.00 


311,500.00 


32.3 1 9,644.00 









ROANOKE AKD TAR RIVER RAILROAD COMPANY. 



165 



COST OF ROAD, EQUIPMENT AND PERMANENT IMPROVEMENTS. 

Total cost construction, equipment, etc 

Cost per mile i 



$266,203.40 
8,241.50 



DIRECTORS. 



Name of Director. 


Post-office Address. 


Date of Expiration 
of Term. 


R.C.Hoffman _ . 


Baltimore, Md — 


October 13, 1899. 




Balti aiore, Md 

Baltimore, Md _ 


October 13, 1899. 




October 13, 1899. 


J. L. Minis _ - 


Baltimore, Md 


October 13, 1899. 


C.D.Fisher 


Baltimore, Md „ 


October 13, 1899. 


L.R. Watts - _ 




October 13, 1899. 




Baltimore, Md _ _ 


October 13, 1899. 









OFFICERS. 



Title. 


Name. 


Location of Office 


President 


R. C. Hoif man 


Baltimore, Md 


Secretary and Treasurer 


John H.Sharp . 


Portsnaouth, Va. 









INCOME ACCOUNT. 



Income from lease of roads 




$16,250.00 


Interest on funded debt _. _ 


$15,600.00 

650.00 

],592.00 

650.00 


Net income ___ 




Surplus June 30, 1898 .. _- 




Additions fcrr year __, _. . __ 








Surplus June 30, 1899 -__ 


2,242.50 









166 



N. C. CORPORATION COMMISSION. 



Palmetto F^ailway Company. 



DIRECTORS. 



Name of Director. 


Post-office Address 


Date cf Expiration 
ot Term. 


E. St. John 


Portsmouth Va 


November 9 1899. 


Chas. Chauncey .— 

J. L. Minis . 


Philadelphia, Pa 


November 9, 1899. 
November 9, 1899. 


P. A. Wellford 




November 9, 1899 







OFFICERS. 



Title. 


Name. 


Location of Office. 


President — 




RaJeigh,N.C. 
Portsmouth , Va. 




J.H.Sharp 









PROPERTY OPERATED. 



Hamlet, N. C. ,to Cheraw, S. O. (miles) . 

Capital stock 

Capital stock per mile 



«300,000.00 
16,483.00 



Leased to and operated by Raleigh and Augusta Air Line Railroad Company. 



WILMINGTON RAILWAY BRIDGE COMPANY. 



167 



Wilroington Railway Bridge Compaoy. 





OFFICERS. 




Title. 


Name. 


Location of Office 


President 


Junius Davis 

J.H.Sharp _— ._ - 


Wilinington, N. C. 


Secretary and Treasurer --- 









PROPERTY OPERATED. 

Hilton, N. C. to Mears Bluff— miles 2.40. 

Property owned by W.& W , W.C. & A. and C.U. Railroad Companies. 



CAPITAL STOCK 

Number of shares 

Par value 

Amount outstanding 



400 

sioo.oo 

40,000.00 



FUNDED DEBT. 

Consolidated— date (t issue, 1893; due 1943. 

Amount issued and outstanding 

Interest at 5 per cent, payable October and April. 

Cost of construct!* n,etc 

Cost per mile 



$217,877.50 

257, h7 1.38 
107,446.40 



168 



N. C. CORPORATION COMMISSION. 



Southerr) f^ailway Coropany. 



DIRECTORS. 



Name of Director. 


Post office Address. 


Date of Expiration 
of Term. 


Alexander B. Andrews 


Raleigh N G 


1 


Joseph Bryan 

Charles H. Coster. _ 


Richm«.nd,Va __. 

New York 


Harris C. Fahnestock 


New York 


* 


William W.Finley 


Washington, D. 

New Yark,N.Y 

Atlanta, Gi-a 

New York 

New Y^nk 

Baltimore, Md j 

New York 




Robert M. Galloway 


To serve for ensu- 
ing year or until 


Samuel M. Inman 


' their successors are 
elected. 


Adrian Iselin,Jr . 




Samuel Spencer 




Skipwith Wilmer ._. 

James T.Woodward 







OFFICERS. 



Title. 


Name. 


Location of Office. 


President 


Samuel Spencer 


New York 


First Vice-President 


A. B. Andrews 


Raleigh, N.C. 
Washington, D.C. 
Washington, D.C. 
New York. 


Second Vice-President 


W. W.Finley 


Third Vice-President 


Frank S.Gannon __ . 


Secretary _ 


Josiah F.Hill 

H. C. Ansley- 




Washington, D.C. 
New York. 




Francis L, Stetson 


Assistant Counsel 


W A Henderson 


Washington, D.C. 
Washington, D.C. 
Washington, D.C. 
Washington, D.C. 
Washington, D.C. 
Washington, D. C. 
Washington, D.C. 


Solicitor 


Fairfax Harrison 


Auditor 


A. H. Plant - . 


Assistant Auditor 


E.H.Kemper— 




W.H.Green . 


Civil Engineer 


W. H. Wells 


General Superintendent of Transp'rtation 


J. H. Barrett 



SOUTHERN RAILWAY COMPANY. 



169 



OFFICERS —Continued. 



Title. 



Assistant Greaeral Superintendent 

Superintendent Motive Power 

Purchasing Agent 

Superintendent of Telegraph 

General Superintendent of Maintenance 

Trartic Manager 

General Freight Agent 

General Passenger Agent 

Landanc! Industrial Agent, 



Name of Post-office. 



J. S. B. Thompson 
W.H.Tiiomas-.- 

J. P. Minetree 

C. A.Daritun 

W.H. Peddle 

J. M.Culp 

T.C. P.-well 

W.A.Turk 

M.V. Richards- 



Location of Office. 



Atlanta, Ga. 
Wa6:htDgton,D.C. 
Washington, D. C. 
Washington, D.C. 
Washington, D.C. 
Washington, D.C. 
Was^hiugtor', D.C. 
Washington, D.C. 
i Wasbingtf-n, U.G. 



PROPERTY OPERATED— Entire Line. 

SOUTHERN RAILWAY MAIN LINE MILEAGE. 



TERMINALS. 


Miles Of 

Liriff )r 

E>^<•h Road 

Named. 


Miles of 
Line for 


From — 


To- 


Each 

Class t.f 
Roads 

Named. 


Alexandria, Va 


Green sboro, N.C - 


279.94 
179. 30 
191.00 
148.50 
228.40 
24L55 
150.85 
86.85 
415.00 
260.70 
270.50 






West Point, Va 




Charlotte, N.C _. 






CjlumDia, S.C — _ — 


Greenville, S. U _ - - 




Salisbury, N.C 


Morri'town, Tenn _ . _. 




Bristol, Teun . . 


Chittanoogi, Tenn _ 




Stevenson, Ala _ _ 


Mis?, State Line, ntar Clear Creek. 
Memphis, Tenn . _ _ _ 




Miss. State Line near Wene.soga 
Ooltewah .Junction, Tenn 




Brunswick, Ga 

State Line Mississippi 




Austell, Ga 




Atlanta Junction, Ga 


York, Ala 










Total Southern Ry. Main Liue 




2,447.59 







SOUTHERN RAILWAY BRANCH LINE MILEAGE. 



Terminal 1 Freight House, Washington, D.C- 

Alexandria, Va i Round Hill, Va 

Union Street Branch, Alexan 

dri^.Va. 

Manassas Br. Manassas Jet. Va. Harrisonburg, Va 

j 
Warrenton Br., Calverton,Va —j Warrenton, Va 

Plttsvilie Br., Franklin Jct.,Va | Pittsville, Va 



0.22 

50. 12 

1.60 

111.60 
8.90 
7.10 



170 



N. C. CORPORATION COMMISSION 



PROPERTY OPERATED— Entire Line. - Continued. 

SOUTHERN RAILWAY BRANCH LINE MILEAGE— Con^mwed. 



TERMINALS 



Fiotn- 



Manchester Junr-tion 

Belle I-le Juuciion 

Granite, Va 

Giarksville, Va 

Oxford, N.C 

Pouiona.N.C 

Ashevil'e,N.C.(Murj.hy Jrt.) _. 

Charl )Ue, N. C 

Hodges,*^. C 

Beltun, s. C 

C.&C.G. Railway, Aiken 

Enbreville Junction, Tenn 

R "gersville JuQCtiotsTenu 

Clititc n, Tenn 

K.& O. Jcf.,K' ox villa, Tenn___. 

Knox villa Belt 

Knoxville, Tenn 

Briceville "Y," Tenn 

Oliver Springs. Tenn 

Tu'^cum Ilia, Ala 

Moscow, '! auu 

Clevt-landjTenn 

North Roma, Ga 

Atlanta, Gd 

Howell, Ga 

Cocbrai), Ga 

Dock Junction, Ga 



Marion Junction, Ala 

Birccingham Junction, Ala 

Gurnte Junction, Ala 

Woodlawn, Ala 

North BirmiDgharn, Ala 

Coalbuig, Ala 

Cardiff, Ala 

laidifi", Ala 



To- 



Rockets, Va 

Belle Isle, Va 

Wtslhatn Gratiite Quarr.\ 

Durh^tn, N.C 

H»-nderson N.C 

Wilkt-vboro, N.C 

Murphy, N. C 

Taytor^v lie, N.C 

Abbeville,S.C 

Anderson, 8. U 

Edgefield, S. C 

Emb eville, Tenn 

R'l^e sville, Ten i 

Harrinoan .luncti ai, Tenn. 
Cumberland Gap, Tenu_^_ 



Ma- J ville Tei n 

P^nol-i,Teun 

B g Mountain, Tenn. 

Flo)ance, .\ia 

.S<'mei ville, Tenn 

Cohutla, Gfi 

At'ai a, Ala 

Furl Valley, <Ja 

Belt Junction, Ga ___ 
Hawkiasville, Ga ___ 



Turtle River D^cks, Brunswick, 
Ga. 



Akron, Ala 

Mobile Junction, Ala 

Elocton, Ala 

End Belt Road, Be<j-amer, Ala. 
Coalburg. Ala 

Mines "9" and "D," Ala 

Brazil Mines, Ala 

Blossburg, Ala 



Miles of 

Line for 

E^ch K,"ad 

Named 



Miles of 
Line fi)r 

E^ich 
Class of 

Roads 
Naaed. 



1.00 

0.7) 

5.00 

5{).80 

12.72 

100.15 

122.40 

65. 65 

11.50 

9.98 

23.58 

13.00 

16. CO 

30. 60 

62.86 

5.85 

16.00 

3.70 

3.26 

7.60 

13.10 

14.80 

61.30 

102.30 

3.30 

10.10 

1.80 

53.00 
34.00 
14.30 
20.50 
6.40 
2.60 
1.60 
1.91 



SOUTHERN RAILWAY COMPANY. 



171 



PROPERTY OPERATED— Entire Line. —Continued. 

SOUTHERN RAILWAY BRANCH LINE MILEAGE — Continued. 



MILEAGE OF LEASED LINES, 



TERMINALS. 


Miles of 

Line for 

Each Road 

Named. 


Miles of 
Line fir 


From— 


To- 


Each 
Class of 

Roads 
Named. 


Offerman,Ala 

A.merica J unctioD Ala 


Hooper Mines, Ala 

A.merica Ala 


0.(iO 
2.20 
0.71 
2.20 
l.IO 
0.90 
H. 63 




Henry Eilen Ala 


Mines Ala 




OakiDan Ala 


Coal Valley, Ala 

Patton, Ala 

No 3 Miuee Ala 




Patton Junction, Ala 

Corona A.la 






Ca'>tleman Branch) Crtstlemao 


Castleman Ala 




Junction, Ala 

Total Southern Railway 
Branch Lines. 










1,097.74 





. 



Norlh Carolina Railroad— [ 

Goldsboro,N.C I Charlotte, N.C 

Oaraleigh Junction Caralelgh Mills, N.C_ 

Atlanta and Charlotte Air Line — 

Charlotte, N. C ! Atlanta, Ga 

Georgia Midland Railway— 



MoDo oueh,Ga- 



Franklin and Pittsylvania Rail- 
road— 

Pittsville, Va 



Columbus, Ga. 



Rocky Mount, Va. 



Richmond and Mecklenburg Rail 
road— 



Keysville, Va CUrksville,Va- 



South Carolina and Georgia Rail- 
road — 



Charleston, S.C 

Branchville,S.C 

Kingsville, S. C 

Augusta Southern Railroad- 
Augusta, Ga 

Mobile and Birmingham Railroad- 
Marion Junction, Ala 

Total Leased Lines 



Augusta, Ga___ 
Columbia, S.C_ 
Camden, S.C — 



TenDille,Ga 



Mobile, Aia. 



221 


i 

60 j 


1 


PO 


268 


17 


1 
97 88 


29 HH 


SI 


ao 







137.,i0 
67.10 
37. 10 

8.£0 

148. .5i 



172 



N. C. CORPORATION COMMISSION. 



PROPERTY OPERATED— Entire Line— Continued. 

OPERATED UNDER AGREEMENTS. 



TERMINALS 


Miles «if 

Line for 

Each Road 

Named. 


Miles of 
L*ne for 


From— 


To- 


Each 
Class of 

Roads 
Named. 


Roswell R.R— 
Chamblee, Ga 


Roswel], Ga. (narrow guage) 

Greenville, Miss $179. 10 

Percy, Miss. (N.G) 23. 'JO 

M^ebb, Miss 31.60 

Columbus, Miss 1.82 

Columbus, Miss 6 


9. 80 




Soutbesn Railway in Mississippi — 

Main Line (State line) Ala 

Percy Br.,8toneville,Miss 

Webb Branch Itta Bena Miss 






Columbus BraECh,M.& 0. Sta 




Columbus Branch, Pas;'. Station 


238. 87 
34. 10 








2^2.77 


Memphis and Charlpston Railway 
(in Mississippi)— 

State Line, near Clear Creek 


State Line, near Wenesoga 


Total operated under agree- 
ments „- - 











CONTROLLED BY OWNERSHIP OF SECURITIES 



Ashevire and Spartanburg Rail 
road — 






: 


Biltmore, N.C _ _ . 


Spartanburg Juact , '^. C— 
Alston, S.C - - _ 


65. 90 






- f)8.00 


__ 


State University Raihoad— 






1 3.90 


Univeri-ity, N.C — . - 


Chapel Hill, N.C 




10.20 


North Carolina Midland Railroad— 






Mooresville, N. C 


Winston-Salem, N.C 




53. 62 




High Point, Randleman, A«hboro 
and ^Southern Railroad- 








High Point N.C 


Ashboro,N. C 




26.80 




Yadkin Railroad- 










Salisbury, N.C _ - 


Norwood, N.C - _ 




41.00 




Elberton Air-Line Railroad— 










Tocca Ga 


Elberton Ga 




50.60 




Knoxville and Ohio Railroad- 










Main Line,Knoxville,Tenn 


Jellico,Tenn 


65.30 






New River Br. , Coal Creek, Tenn 
Southern Railway in Kentucky- 


Cambria, Tenn 


4.02 


69.32 












Louisville, Ky 


LexiDgton.Ky 

Burgin Ky 


80. 40 






T/Q \;i7rpnppbnrs!' TCv 


26.10 






Versailles Kv 


Georgetown, Ky 


16.70 


123.20 











SOUTHERN RAILWAY COMPANY. 



173 



PROPERTY OPERATED— Entire Line —Continued. 

CONTROIiLED BY OWNERSHIP OF SECURITIES— Con^mwed. 



TERMINALS. 


MiJesof 

Line for 

EHch Road 

Named. 


Mile.« of 
Lir.efor 


From— 


Tc- 


Each 

Class of 

Roads 

Naaed. 


Carolina Midland Railway— 
Seivern 


Allendale, :e!. C 

Seivern, j^. 


54.14 

17.44 

180.9o 

18.7^ 

11.39 

1.10 

2.02 

2.02 




Seivern and Knoxville R.R— 
Batesburg.S. 




Atlantic and Yadkin Railway — 
SaofordjN.C -. - 


Mount Airy, N C 

Raraseur, N.C ^— 

Madisnn, N. C „ 




Ramseur Branch, Climax 




Bufif Quarry Branch, Gulf 

Furnace Branch, Greensboro 


Buff Quarry, N.C 




Proximity Mills, N. C 

Granite Quarry 




Granite Quarry Br'ch,Mt. Airy- 
Total controlled bv owner- 


74(5.44 


ship of securities. 









TRACKAGE RIGHTS. 



Washicgtoh Southern R. R — ' 

Washington, D.C Alexandria, Va 

Central of Georgia Railway — 

Peters street Union depot, Atlanta, Ga 

Augusta and Summei; ville R. R 

Entrance to Union depot, Au- 1 

gusta, Ga. 

Georgia Railroad- 
Entrance to Union depot Au 

gubta, Ga. 

Entrance to Union depot At- 

lanta, Ga. j 

Western and Atlantic R. R— I 

W.& A. crossing, Ga Dalton,Ga 

Alabama Great Southern R. R— 

Woodlawn Birminghana, Ala 

Birmingham, Ala Mobile Junction, Ala 

York, Ala Meridian, Miss 

Central Passenger Station ' Louisa St., Chattanooga, Tenn. 

Louisville and Nashville R. R— i 



Entrance to Union depot Bir- 
mingham, Ala. 



6.95 
0.67 
■ 0. 50 

0.25 
0.74 

0.20 i_ 

3.60 
14.0' 

27.03 
0.40 

0.52 



174 



N. C. CORPORATION COMMISSION. 



PROPERTY OPERATED— Entire Line— Continued. 
TKACKAGE KiGUTS— Continued 



TERMINALS. 



Piom- 



To- 



Liouisyille and Nashville R. R— ' 

Li.& N. Junction j Union depot, Florence, Ala. 



Middleboro, Ky 

Passsenger station, Mobile, Ain- 



Cumberland Gap,Tenn 

Lipscomb stree: 

Kentucky aod Indiana Bridge Co— 

Lou'sville, Ky i 

Norfolk an-1 Carol ina R. R— i 

1 
. Tarboro, N. C Pinner's Point, Va 

Wilmington and Weldon R.R— 

8f lrna,N.C Tarboro, N. C 

Nasliville, Chattanooga and St. 
Louis Railway- 
King street ; Louisa St , Chattanooga, Tenn 

Louisa St.,Cbattanoog'^,Tenn — ' Stevenson, Ala 

Total trackage rights ' 



Miles of 

Line for 

Each Road 

Named. 



-1.90 
0.75 

6.90 

100.80 

.54 M 

0. CO 

38.00 



Miles of 
LI r e for 

Each 
Class of 

Roads 
Nau.ed. 



2b 1.59 



SUMMARY. 



Southern Railway Main Lines 

Southern Railway Branch Lines 

Leased lines 

Operated under agrtements 

Controlled by owne)ship of stcurities 

Trackage rights 

Total mileage operated 



2,447.59 


1,097.74 


1,091.25 


314.07 


746.44 


261.59 



5, i)58. 68 



SOUTHERN RAILWAY COMPANY 



175 



PROPERTY OPERATED, OWNED LINES, STATE OF NORTH CAROLINA. 





TERMINALS. 


Miles of 

Line for 

Each Road 

Naintd. 


Miles of 
Line for 


NAME 


P'rom— 


To- 


E.ch 
ClasK of 

Koads 
Namtd. 


Southern Railway Company — 


State Line, Va___"_ 


Greensb ro 


J2.70 






Charlotte 


Staie Liae,S. C 


11.50 






Salisbury 

Ashevilie 


Ashevilie 


l^I.OO 






State Line.Tenn __ 


4-1. -iO 


2o9. 60 


Southern Railway (Company ___ 


State Llne,Va 


Durham 


J9. TO 




Oxford . 


Hender-o!) 


12. 7_' 






Green sb->ro 


Wilkesb.ro 


100.15 






Charlotte 


Tdylorsvilie 

Murphy 


6"). 65 






Ashevilie 


122. 40 


• 






350. 62 


Lines operaferl under trackage 
rights, as follijws : 








Wllmingtoij and vV^ldon R.R-_ 
Norfolt? and Cnirolina R. R ^ 




Tarboro 


54.88 




Tarboro 


State Line, Vh 


(i5..S0 








120.68 






Total 


710.90 













CAPITAL STOCK. 



DESCRIPTION. 



Capital Stock- com on ._. 

preferred _ ._ 

Total 



Number of 

•Snares 
Authorized. 



1,200,000 
600,000 



1,800,0UU 



Par Total F'ar 

Va'u« <^>f Vwlue 
Shares. LAuihoiized 



$100.00 ' SI 20, 000,000 
100.00 ! 60,000,000 



ISO. 000, 00:) 



Total 

Amount 

I-JS'ied and 

Outsiand 

ing 



DIVIDENDS DE- 

CLAKEI) DrjRING 

YEAR. 



Rate. 



$120,000,000 ! 

60,000,000 I 1 per ct. 



n 0,000,001.1 



Manner of i nymetit f 

SlOCii. 



Cjpital 



Issued for reoiganizntion — common 
prefer! ed. 
Issued for acquisition of su ck— 
Ala. Grt.St'U.Ry. Co— prt ferred 



Numb 'r f 
Sh^r. s l-su'd 
Dii'lntr Year. 



Cash Real- 
ized on 
.Amonol I- 
sueo During 
Y.ar. 



Ti tal Num 
ber (Shares 
I-^sued af.d 

Outs andmg. 



Purcha'-e of Memphis and Char. 
Property— preferred. 

Purchase stock "^.CaG. R.R—p e- 
ferred. 

Total 



27,096 



1,200,000 
500,000 

48,0 
29,901 

27,096 



1,800,000 



$572,904.00 



,90i.00 



T" MalCash 
Realized. 



176 



N. C CO HPO RATION COMMISSION. 



FUNDED DEBT. 
MORras^GE BONDS, MISCELLANEOUS OBLIGA.TIONS, AND INCOME BONDS. 





TIME. 


Amount of 

Authorized 

I- sue. 


Amount 


Amount 
Outt.tt»ndiug. 


Cash Real- 


CLASS OF BOND OR 
OBLIGATION 






ized <n 

.Amount 

Issued. 


So. Rwv. 1st. con. mortgage. 


1894 


1994 


$120,000,000.00 


130,033,000.00 


$.30, 033, 000. 00 




So. Rwy. E.T. reorgn. mort 


1894 


1938 


4,;.oo,ooo.oo 


4, .500, 030. 00 


4,500,000.00 




gage 




So. Rwy. M, Division first 
moitgaec-. 


189 S 


1996 


8,000,000.(50 


5,0S3,000.00 


5,083,000.00 




So. Rwy. M. Division sec 


1898 


1996 


2,590,000.00 


1,. 5: 0,000. 00 


1,500,000.00 




end mortgage. 




So. Rwy., Aiken Branch 


1898 


1998 


200,000.00 


150,000.00 


150,000.00 




first mortgage. 




R.& D. consjl. mortgage _.._ 


1874 


1915 


6,000,000.00 


5,997,000.01 


5,997,000.00 




R. & D. debenture mortgage 


1882 


1927 


4,000,000.00 
2,500,000,00 


3,308,000.00 
1,582,000.00 


3,368,000.00 
802,000.00 




R. & D. Eq. S. F. mort,gage__ 


18S9 


1909 




W. O . & \V . 1st mortgage- 


1884 


1924 


1,250,000.00 


1,02.5,000.00 


1,02.5,000.00 




R.Y. R.&C. 1st mortgage-- 


1894 


19 !0 


400,000.00 


400,000.00 


400,000.0.« 




R. Y. R. & C.2ud mori gagp- 


1S80 


1900 [ .500,000.00 


500,000.00 


500,000.00 




A. T. & 0. 1st mortgage 


18S3 


1913 150,000.00 


1:0,000.00 


1.50,000.00 




W N C. 1st con. mortgage 


1881 


19 4 


3,856,000.00 
2,000,000.00 


2, ,531, 000. 00 
2,000,000.00 


2 531 000 00 




C.C.&A.ist m >r(gage 


189.5 


1909 


1,997, .500. 00 


' 


C. C. & A. 2nd iti'^rtg-ige 


1872 


1902 


500 000 00 


500,000.00 
2,000,000.00 
3,U'3,000.00 
3,100,000.00 
12,770,000.00 


500,000.00 
2,000,000.03 
3,123,000.00 




C. & G. 1st mortgage 

E. T. V.& G. 1st moitgage 


1881 


1916 


2,000,000.00 




1870 


1900 




E. T. V. & G. 1st m rtgage _ 


1870 


1900 




3,100,000.00 




E. r. V.& G.cm. mort gage- 


1886 


19.56 


■20,000,000.00 


12,770,000.00 




Ala. Cent. 1st mortgage 


1879 


1918 


J 


1.000,000.00 


1,00".',000.00 




K. & 0. 1st mortgage 


188.5 


1925 


^,^(•0,000.00 


2,000,000.00 


2,000,000.00 






1882 


1922 


10,000.00 
I)pr mile 


5,060,000.00 


5,600,000.00 








Ga. Pac. E]q.S. K mortgage- 
S.U.& Cist mortgage 


1889 


1904 


2,000,000.00 
1,000,000.00 


1,406,000.00 
1,000,000.00 


402 000.00 




1895 


1995 


1,000,000.00 




A. & Y. 1st mortgage 

V. M. Series A. mortgage 

V. M. Series B. mortgage 

V. M. Series C. mortgage 


1899 


1949 


1,500,000.00 
fion nnn on 


1,500,000.00 

600,000.00 

1,900,000.00 

1,100,000.00 


1,500,000.00 
600, 000. 00 




1881 


1906 




1881 


1911 1 ^<^(^ ^(^f^ fif^ 


1,900,000.00 
1,100,000.00 




1881 


1916 


1,100,000.00 




V. M . Series D. mortgage 

V. M. Series E. mortgage 

V. M. Series F. mortgage 


1881 


1921 


950,000.00 

1,775,000.00 

1,310,000.00 

12,500,000.00 

500,000.00 


950,000.00 
1,775,000.00 
1,310,000.00 
4,859,000.00 

500,000.00 


950,000.00 
1,775,000.00 
1,310,000.00 
4,859,000.00 

340,800.00 




1881 


1926 




1881 


1931 




1886 


1936 




C.& R.lst mortgage 


1879 


1913 





SOUTHERN RAILWAY COMPANY. 



177 



FUNDED DEBT.— Continued. 
MORTGAGE BONDS. MISCELL VNEuUS OB IG VTIONS, Etc —Coniinued 





TIME. 


AmouDt of 
Authorized 

IS!>Uf. 


Amount 
Issued 




Cash Real- 


CLASS OF BOND OR 
OBLIGATION. 




a 
si 3 


Ars ount | ized on 
Outstanding. 1 A^jDount 
i Issued 


TOTAL— 

Mortgage bonds 








$105,878,000.00 
3,550,000.00 


$103,932,300.00 
2, 950, 000. CO 




Miscelaneous obllga- 
tious. 






$3,550,000.00 


$3,550,000.00 







CLASS OF BOND OR OBLIGATION. 



So. Rwy. Isl COD. mortgage 

So. Rw.v. E. T, reorganization mortgage. 

So. Rwy.M.Divisi' n firs^t ni'>rtga?e 

So. Rwy. M. Division secon(1 mortgage.. 
8 '. Rwy., A.il?en Branch fir-t mortg-ig '. 

R. & D.consolid't ted mortgage 

R. & D. debenture mortgage 

R. & P. Eq. S. F. mortgsige 

W . O. & W. first mortgage 

R. Y. R. & C. first mortgage 

R.Y. R.& C.second morlgage 

A.T.& O. first mortgage 

W.N.C. first coijsolidated mortgage 

C. C. & -A.tirst mottgage 

C.C.& A.seci»nd mottgage 

C. & G. first mortgage 

E. T. V. & G. fi rst mortgage 

E.T.V.&G. first morlgage 

E.T. V.& G.consolidat^d mortgjge 

Ala. Cent. firs' mortgage 

K.& O. first mortgage 

Ga. Pac.fi r.-.t mortgage 

Ga.Pac. I5q.S. F. mortgage 

S.U.& C. first mortgage 

A. & Y. first mof tgage 

V.M.Serit s A. mortgage 

V. M. Series B. mortgage 



INTEREST. 



^'^'; When 

Cent. i^ayablo. 



4>^ 



Jnn.& July. 
Mar. & Sept. 
Jan. & July. 
April &Oct. 
Jan. & July. 

.__.do 

Apr. & 6;'-t. 
Mar. & Sept. 
Feb. & Aug 
Jan.& Jul.\ 
May & Nov 
April &Oct 
Jan.& July 

____do 

Apr.& 0,n. 
Jan.& July 

____do 

— _do 

May & Nov 
Jau.& July 

-._do 

.._-do 

Feb. & Aug 
JaD.& July 
Apr. & Oct- 
Mar. & Sept 
—-do 



Amount, ; Amount 

Accrued ; Paid Dur- 

Dunng Year | lug Year. 



$1,406,950.00 $1, 
225,000.00 
203,320.00 

Pledged __.. 
6,000.00 
359,8:0.00 : 
168,400.00 

41,683.33 

41,000.00 
_ 20,000.00 

22,500.00 
9,000.00 i 
151,860.00 

99,875,00 

35,000.00 
120,000.00 
218,610.00 
155,300.00 
638,500.00 

60,000.00 
120,000.00 
339,600.00 

20,740.00 ! 

40,000.00 

15,000.00 

36,0C0.C0 
114,000.00 



406,950.00 
225,000.00 
203,320.00 

6,000.00 

359,^20.00 

168,400.00 

4 1 , 683. 33 

41,000.00 

20,000.00 

22,500.00 

9,000.00 

151,860.00 

99,875.00 

35,000.00 

120,000.00 

218,610.00 

155,300.00 

638,500.00 

60,000.00 

120,000.00 

339,(00.00 

20,740.00 

40,000.00 



36,000.00 
114,000.00 



■12 



178 



N. C. CORPORATION COMMISSION. 



FUNDED DEBT— Continued. 
MORTGAGE BONDS, MISCELLANEOUS OBLIGATIONS, Etc.— Continued. 



CLASS OR BOND OR OBLIGATION. 



V. M. Series C. morlgage 

V.M. Series D. mortgage 

V. M. Se) ies E. mortgage 

V. M. Series P. mortgage 

General mortgage 

Charlottesville & Rapidan first mortgage. 

TOTAL— 

Mortgage bonds 

Miscellaneous obligations 

Grand total 



INTEREST. 



Rate 

rer 

Cent. 



When 
Payable. 



Mar. & :<ept. 
—do 

.__.do 

.—do 

May & Nov— 
Jan.& July*_ 



Amount 

Accrued 

During Year. 



Amount 
Paid Dur- 
ing Year. 



$66,000.00 
38,000.00 
88,750.00 
65,500.00 

242,950.00 



$66, COO. 00 
38,000.00 
88,750.00 
65,500.00 

242,950.00 



5,169,358.33 5,154,358.33 

67,14.5.82 54,000.00 

5,236,504.15 5,208,358.33 



Annual rental, $35,000.00, out of which am mit Trustee pays interest and return bonds. 



FUNDED DEBT— Continued. 
EQUIPMENT TRUST OBLIGATIONS. 

A. GENERAL, STATEMENT. 



Series or Other Designation. 



Date of Issue- 
Term. 



No. of Payruents. 



R. & D. Eq. S. F. 5 per cent mortgage Sept. 

E.T.V.& G. Eq , notes to Mo. Car and Fdy. Co 



-20y'is. 



Fin^l payment 
February 1,1902. 



G. P. Eq. S. F., 5 per ceut mortgage 



July, U 



-ISy'ri 



Memphis and Chas. Eq. notes OhiO Kails Car Co I Final payment 

October 3, 1900. 



Aug. So. Eq. notes to Car Trust Inv. Co 

Richmond Locomotive and Machine Worlis_ 



Ohio Falls Car Co 

Ohio Falls Car Co 

S. C. & G. Eq. notes to Chas. G. Burnham. 



Ohio Falls Car Co 

Richmond Locomotive and Machine Works 



Final payment 
August 1,1899. 

Final payment 
December 1,1899. 

February 1.1900. 

December 10, 1899. 

Fj nal p a V 'n e n t 
May 15,1901 

Final payment 
December 10, 1902 

Final payment 
March 2, 1903. 



SOUTHERN KAILWAY COMPANY. 



179 



FUNDED DEBT— Continued. 

EQUIPMENT TRUST OBLIGATIONS. 
A GENERAL ST AT em:evt— Continued. 



Series or Other Designation. 



R. & D. Eq.S.F.5 per cent mortgage 



E.T.V.&G.Eq. notes to Mo. Car and Fdy. Co 
G. P. Eq. S. F. 5 per cent mortgage 



Equipment Covered. 



22 locomotive*, 21 passen- 
ger cars, 1, 124 freight cars. 

500 freight cars 



Mem p. and Chas. Eq. nntes Ohio Falls Car Co. 

Aug. So. Eq. notes t > Car Trust In v. Co 

Richmond Locomotive and Machine Works 
Ohio Falls Car Co i 

Ohio Falls Car Co j 

S. C. & G. Eq. notes to Chas. G. Buruham I 

Ohio Falls Car Co 

Richmond Locomotive and Machine Works 



31 locomotives, 24 passenger 
cars, 1,100 freight cars. 



200 freight cars. 

1 locomotive — 

2 locomotives __ 



6 passenger cars, 35 freight 
cars 



15 freight cars _ 
250 freight cars 
10 freight cars.. 
5 locomotives _. 



Remarks 



Monthly payments. 

Monthly payments. 
Monthly payments 
Monthly payments. 
Monthly payraents. 

Monthly payments. 
Serai annually. 
Quarterly. 
Quarterly. 



B. 


STATEMENT OF AMOUNT. 


Series or Other Designation. 


Deferred Payments— 

Principal. Amount 

Oat-^tanding 


Deferred Payments — Interest. 


Mo. Car and Fd^. Co 


$100,000.00 

32,638.72 

231.26 

1,686.00 

4, 14 -.16 

38,000.00 

21,209.72 

41,018.85 

),0!)0.92 




Ohio Falls Car Co 




Car Trust Inv.Co 

Richmond Loco, and Mach. Works.. 
Ohio Falls Car Co 




Chas. G. Buruham 


Interest on these notes included in 
the principal. 


Ohio Falls Car Mfg. Co 




Richmond Loc\and Macb. \.Vorks_ 
Ohio Falls Car C-, 








Total _ 


239,991.63 









RECAPITULATION OP FUNDED DEBT. 






Amount 
Icsued. 


Amount 
Outstanding. 


INTEREST. 


CliASS OF DEBT. 


Amount 

Accrued 

During Year. 


Amount 

Paid 

During Year. 


Mortgage bonds 

Miscellaneous obligations 


$105,878,000.00 


8103,932,300.00 


$5,169,358.33 

67,145.82 


$5,154,358.33 
54,000.00 


Equipment trust obligations , _ _ 




239, 991. 6 J 










Total 


105,878,000.00 


104,172,291.63 


5,236,501.15 


5,208,358.33 





180 



N. C. CORPORATION (COMMISSION. 



CURRENT ASSETS AND LIABILITIES. 



ASSETS. 

Cash 

Bil 8 receivable 

Due from ageuts - 

Due from solvent companies aad individuals __ 
Net traffic bal;- Dces due from other coit5panie'»- 

Total— cash and current assets 

Total 



LIABILITIES. 



Audited vouchers and accoun^s_.. 

Wages and sa ariea 

Matured interest coupons unpaid. 

Rents due July 1 

Total current liabilities 

Balance — ?abh assfts 

Total 



$S, 388, H75. m 

60,530.14 

507,-r)().79 

1,876, 456.22 

157.800.08 



.5,496, y.s>9 
5,496,918.89 

1,575,:W).93 
9i'3,(i:i8. 17 
1,7 14, 0(0. 6a 
195,531.03 
4,408,-190.78 
1,088,4:^8.11 
5,496,918.89 



IVIatejials and sup|..ljesuu hand, $1, 193,872.73. 



MISCELLANEOUS INCOME. 



Item. 



Net ii come from compress and other property 

Net earnings 

Net amount rec^Mved in adjustrrent of e-irnings A. & Y. tiy. aceral ig priu' to 
date (f puictiasH aud delivery of property 

Total . ■- 



Net IVl s 

eeilnue u» 

luc me. 



5^100,055.19 
4,283.39 

14, 2! 1.2.; 



118,549.81 



RECAPIIULATION. 
A. FOR MILE V(.E OWNED. 



ACCOUNT. 


T tal 

Arnoutit 

Ouibtundmg. 


Apportion- 

rneui. to 
Radroaos. 


AMOUNT PER 


MILE OF LINE. 




Miles. 


Am-iuDi. 


Capital stock 


$180,000,000.00 

103, 932, 303. CO 

239,991.63 


All 

do 

do 


3,792.53 
3,792.-53 
3,792.53 


$17 46'' ' 


Bonds 


27 401 00 


Equipment trust obligations 


(ii.OO 


Total. . 


284,172,291.63 




3, 792. 53 


71 9"9 00 







SOUTHERN RAILWAY COMPANY. 



IM 



RECAPITULATION— Continued. 
B. FOR MILEAGE OPERATED. 



j 

1 

NAME OF KO-VD ' 


Capital 
St<'Ck. 


F 'nd^d Debt 
ai d Outsiand 

ii '^ Sf-cnrities 

. f Lf^ae 
b- 111 Estate. 


Total. 


amount per mile of 

LINE. 




Miies 


Amount. 




sisn noo nnn no 


«I0J,172,291.63 


$284,172,291.63 


*3,783.13 




Leasehol o Estate, Viz. 








4, 000, ''00. 00 


4,000,000,00 
7,200,000.00 


223.55 




Atluntu n 1 1 f 1 liarlottft 1 




7,'200;000.00 


268. 17 




A.L. RW.V.C ) 






Georg a Midland Ry. Co 




1,650, 00 00 


i.es'^.ooo.oo 


97.88 






5,250,000.00 


5,250,000.00 


241.70 




R. B.C.. 










400,000.00 


400,000.00 


81.50 




C.-. j 




M' bile and Birining 
ha-riR.R. 




2,700,000.00 


2,700,000.00 


148.55 








Richni'uo »nd Meek 




308,000.00 


308,000.00 


31.30 




leuburg K. K. 






Othe- Operated Lines. 












A>-heville nn 1 Spartao 
barg K. R. Co. 


] 






133.90 












Eiberion A L Rw3'.C'> 








50.60 




Franklin »nd Pittsyl 








29.90 




vania R. R.C'. 










High P i-nt, R. , .\.aud 
^o.R.R.C '. 








26.80 












K n ox vi i le and Ohio 








69.32 




R. K.Co. 










Memphis and Cha^. 
Rwy.C'. 






200,000.00 


31.10 




} 






North Cir.Mid.Rwy.Co 
Roswrll R. R. o - -- 


-00, 000. 00 






53.62 






35,000.00 


35,000.00 


9.80 




S'^ntht^rn Pail way in 
Kentucky. 








123.20 












iSouthem R-tilwav in 








238. 87 




Mississippi. 












State Univ( sity R. R. Co- 
Yadbin R.R.C ) - - - 








10.20 










41.00 














Grand total 


180,200,000.00 


125,715,291.63 


305,915,291.63 


5, 697. 09 ffi53. 697. 00 









* r>ie difference of 9.40 Is mileage of line between Oraage and Gordonsville, Va , owned by 
this company, leased and operated by Ches. and Ohio Railway. 



182 



N. C. CORPORATION COMMISSION. 



COST OP ROAD, EQUIPMENT, AND PERMANENT IMPROVEMENTS. 



Item. 


Expenditures 
During Ytar. 


Total Cost to 
June 30, 1898. 


Total Cost to 
Jui-e30,1899. 


Cost Per 
Mile. 


Construction— 
Real estate _ ._ 


S!225, 229. 32 










19,665.64 
105,100.50 
349,995.46 

41,450.00 
44, 366. 00 








Track laying 

Total construction 




$251,105,986.93 


$252,877,040.02 


$44,387.06 


Equipment— 
Passenger cars 


Freight cars 








Floating equipment _ _ _ . 


40,000.00 

359,483.38 
485^.38 
349,995.46 








Air brakes, automatic couplers 

Total equipment 

Total construction 




11,892,783.07 
251,105,986.93 


12,507,307.95 
252,877,010.02 


2,195.39 

■ 

44 387 06 






Grand total cost const ruction, equip- 
menT,etc. 


835,294.84 


262,998,770.00 


265,384.347.97 


46,582.45 



INCOME ACCOUNT.— Entire Line. 



Gross earnings from operation 


$25,353,686.07 
16,539,111.40 




Less operating expenses 












Tncornp, from operation 




$8, 814,574. h7 




186,027.92 
23,892.08 
118,549.81 






Miscellaneous income— less expenses 














Income from other sources 


• 


328,469.81 
9,143,044.48 


Total income 

Deductions prom Income— 

Interest on funded debt accrued 


5,236,504.15 

18,742.62 

3,210.00 

972,249.58 

817,243.97 

544.68 


Interest on interest-bearing curren 


t liabilities ac< 


jrued 














Taxes ._ ._ . 
















Total deductions from income _. 




7,048,525.00 












Net income 


2,094,519.48 




g June 30, 1899 
count [from " 






Surplus from operations of j ear endin 

Surplus on June 30, 1898, dividend ac 
ance Sheet," 1898 Report] . 


2,094,519.48 
1,454,951.72 


General Bal 






'General Balance Sheet"].. 






Deductions for year 


1,182,907.32 




Surplus on June 30, 1899 [for entry on 


2,366,563.88 





SOUTHERN RAILWAY COMPAISY. 



183 



EARNINGS FROM OPERATION— North Carolina. 



Item. 



Passenger— 

Passenger revenue 

Less repayments- 
Tickets redeemed 

Excess fares refunded 

Other repayments 

Total deductiono 

Total passenger revenue 



Mail 



Deductions, 

Total Account of Actual 

Receipts. Repayments, Earnings. 

etc. 



S704, 346. 23 



$27, -126. 



426. 



Express 

Extra baggage and storage 

Other items 

Total passenger earnings 

Fkeight— 

Freight revenue 

Less repayments- 
Overcharge to shippers 

Other repayments 

Total freight revenue 

Total freight earnings 

Total passenger and freight earnings -- 
Other Earnings from Operation— 

Switching charges— balance 

Hire of equipment — balance 

Rents from tracks, yards, and terminals 

Rents not otherwise provided for 

Othersources .. 

Total other earnings 

Total gross earnings from operation— N.C 

Total gross earnings from operation-- 
entire line. 



$676,919.37 

98,989.25 

SS. 883. 45 

11,70 .70 

1,364.08 

827,813.85 



2,090,457.01 



62, 695. 19 



2,027,761.82 
2,027,761.82 
2. 855. 575. 67 

] , 3i9. 57 
2.146.39 
1.367.95 
1.200.22 
1,309.85 



7.353.98 
2,862,929.65 
25,353.686.07 



184 



N. C. CORPORATION COMMISSION. 



OPERATING EXPENSES. 

Operating Expenses— Evtike Line— 

Mninlenance of way and structures 

Maintenance of equipment _.. 

Conducting transportation 

General expenses 

Grand total 

Percentage of expenses to earnings 

Operating Expenses— State of North Carolina— 

Maiptenance of way and structures 

Maintenance of equipment 

Conducting trans portatiou „. 

General expenses (excluding taxes, $61,628.81) 

Total 

Percentage of operating expenses to earning?— North Carolina 



$3, 597, 261. o7 

3,792,304.16 

8,296,428.45 

853,117.42 



16,539,111. 


40 


65.23 


889,354.93 


433,981 


88 


701,724 


U 


90,073 


55 


l,5ti8,134 


47 



64.7 



RENTALS PAID. 
A. RENTS PAID FOR LEASE OF ROAD. 



Name of Road. 


Interest on 

Bonds 
;uaranteed. 


D videuds 

en Stock 

Guaranteed. 


Cash 


Total. 


North Carolina R R 






$266,000.00 

35,300.00 

4,000.00 

1,050.00 


$266, 000. 00 


Charlottesville and Rapidan R. R 






35,300.00 


A. and C. A. L. Railway 


SB, 625, 000. 00 


$102,000.00 


468,500.00 




1,050.00 


Geoigla Midland Railway 




49,500.03 




49, 500. 00 


Wilmington and Weldon 








Norfolk ar d Carolina R. R 


_ 




68,915.32 


68,915.32 


Richmond and Mecklenburg R. R.__ 
Richmond and Mecklenburg R. R 


8,400.00 




8,4L0.00 




1,500.93 


),-'00.93 


South Carolina and Georgia R. R 

Mobile and Birmingham 


47.083.33 
26,000.00 




47,083.33 






26, 000. 00 










Total rents A_ 






972, 249. 58 













SOUTHERN RAILWAY COMPANY, 



185 



RENTALS PAID— Continued. 
B. RENTS PAID FOR LE.\SE OF TRACKS, YARDS, AND TERMINALS. 



Situation of Property, 



Tracks— 

Alexandria, Va,to Washington, D. C- 

W.O.& W.Juucti m 

Blocton t> B rtningbam 

Birmingham, Al > 

York to Meridian, Miss 

Mobile to Bessemer, Ala 

Louisville, Ky 

Macon, G' 

Louisville, Ky 

Atlanta, Ga 

Cumberland Gap Tuuuel 

Middlesboro,Ky 

Tecuras-eh, Ala 

Stevenson to Chattanoogn ,Tenu 

Atlanta, Ga 

Alexandria to Long Bridge 

Augusta, G< 

Atlanta, Ga 

Sheffield, Ala 

Louisville,Ky 

Chattanooga to Harriman 

Augusta, Ga 

Selma, Ala 

Clifton and Convers^-jS. C 

Augusta, Ga 

Augusta, Ga 

Peter's Spur, Ala 

Greenville, S.C 

Webbs, Miss 

Selma to Marion Junction, Ala 

Total 

Terminals— 

Mobile, via 

Anniston, Ala 

Florence, Ala 

Louisville, Ky 

Fort Valley, Ga 



Name of Company or Party Owning 

Property. \ 



Penii. R. R 

Tho?. W.Swann 

A. G.S. R. R 

A.G.S. R.R 

A. G. S. R. R 

A. G.S. R.R 

K. & I.Br. C ) 

M.U.&S.R.R 

111. Cent. R. R 

C.of G. Rv. Co 

L.& N. R. R 

L.& N. R. R 

Tecumseh Iron Oo 

N.C.&Si. L. Ry 

N.C.&St. L. Ry 

Wash. Sou. Ry 

City of Augusta 

Georgia R. R 

Lady Ensley C. I. & R. R. Co.. 

Lou. Bridge Cj 

C.N.O.&T. P. Ry 

North Augusta Land Co 

Selma St. & Sub. R.R 

Clifton Mfg. Co 

City of Augusta 

City of Augusta 

Climax Coal Co 

H.C. Beattie 

Miss Smith Murphy 

Southern Ry 



L.&N.a.R _ 
L.&N. R.R._. 
L.&N. R.R__. 
ID. Cent. R.R 
C.of G.Ry— . 



Amount. 



§f!o,2 7.98 

m). 96 
8,;i7i.q 

t.OO.OO 
."i, ■!()(). 00 

0, K\7. 29 
22 {. 

(10.00 

lio.50 

7, ■82.00 

.-,!!85.79 

m. 56 

28>.00 

CO, (.00. 00 

25,6.!5.00 

(i, 2-19. 96 

1 , 666. 68 
8,000.00 

26. 25 

2.85 

872.00 

.00.03 

12.00 

3,000.00 

■J97.71 

983. 25 

55. 75 

J, (.00. CO 

(i.OO 

2,312.49 



201,713.5.3 



300.00 

1,800.00 

227. 37 

327.37 

1,362.73 



186 



N. C. CORPORATION COMMISSION. 



RENTALS PAID— Continued. 
B RENTS PAID FOR LEASE OF TRACKS, YARDS, AND TERMINALS. 



Sil uation of Property. 


Name of Company or Party Owning 
Property . 


Amount. 


Terminals— 

Ooluonbus and Griffin, Ga 


Geo. Mid. Ter. Co 


$2,500.08 

11,20^.96 

27. t)9 


Louisville, Ky 


K. & I. Br. Co 

Nor. & Sou. Ala.R. R 


Sheffield, Ala _ . 


Northern \la. Ry _ _ 


188. 75 


Mobile Ala 


T G Brush 


18 05 


Selma Ala 


R. P. Karnegay 


12 50 


Brunswick, Ga 


Plant System 


233. 24 


Geoi'getown, Ky 


C.N. 0. & T. P. Ry 


30.00 






Total 


18,233.04 








Grand total rents B 


222,946.67 







STOCKS OWNED. 
A. RAILWAY STOCKS. 



Name. 



I. 
Ala.Qrt. Sou.Rwy. Co., Limited — Class A__- 
Ala.Grt.Sou. Rwy. Co., Limited— Class B .— 

Knoxville and Ohio R. R. Co 

Southern Rwy. Co. in Kentucky 

Ashevilleand Spartanburg R. R. Co 

Danville and Western Rwy. Co 

Elberton Air Line R. R. Co 

Georgia Midland Rwy. Co 

Hartwell R. R. Co 

H. Pt. , R. A. and Sou. R. R. Co 

North Carolina Midland R. R. Co 

Richmond and Meckleuburg R. R. Co 

State University R. R. Co 

Spartanburg, Union and Columbia R.R.Co_ 

Yadkin Rwy. Co 

Atlantic and Yadkin Rwy. Co 

Mobile and Birmingham R. R.Co 

South Carolina and Georgia R. R. Co 

Carolina Midland Rwy. Co 

Seivern and Knoxville R. R.Co 

Northern Alabama Rwy. Co 



Par Value. 



$1,725,000.00 

4,540,050.00 

1,117,300.00 

1,000,000.00 

1,047,981.83 

368,600.00 

89,850.00 

1,000,000.00 

20,000.00 

212,500.00 

787,600.00 

800,000.00 

16,800.00 

1,000,000.00 

462,750.00 

1,000,000.00 

866,700.00 

3,620,300.00 

532,500.00 

140,000.00 

1, 525, 100. 00 



Dividend 
Received. 



$97,298. 



Valuation. 



SOUTHERN RAILWAY COMPANY. 
STOCKS OWNED— Continued. 



187 



Name. 


Par Value. 


Dividend 
Received. 


Valuati n. 


I 
TiirminghflTn Sonthfirn R. H. — nnmmon 


$300,000.00 
300,000.00 






BirmlDgham Southern R. R —preferred 












Total 


21,973,031.83 


$97,298.62 


$$18,680,681.62 




II. 
Danville, Mocksvilie and So. W.R R 


50,200.00 

6b,. -00. 00 

66,700.00 

1,227,000.0) 

833,300.00 

6,200.00 

58,600.00 

400.00 

40 000.00 






Ala. Grt.So. Rwy. Co. , Limited — Class B 






Angnstfl, and Rnn rr|prvil le R. R, Ca 






Georgia Southern and Florida Rwy.C • 


32,620.00 
54, 164. .50 




Norfolk and Carolina R.R. Co 

Norfolk and Portsmouth Belt Rwy.C<> 




Northern Alabama Rwv. (^o 






C.N.O.and T. P. Rwy. Co 






Central Rwy. Transfer and Storage C 






Lawrenceville Branch R. R 


7.5.00 












Total 


2,347,975.00 86,784.50 


581 .1-18 23 






Total I and II 


24,321,006.83 184,0b3. 12 


14,262,229.85 











B 


OrHER STOCKS. 






Name. 


Par Value. 


Dividend 
Keceived. 


Valuation. 


I. 
B.C. and K.S. B.Co., stock 


$250,000.00 

250,000.00 

25,-500.00 






B.C. and R.S.B.Co., certificates of inde 


btedoess 


j 


Sheffield Machine Works, stock - 


1 
i 










Total 


52.5,500.00 


$300,2.55.00 








II. 
Alabama Shipbuilding Syndicate- 


148,000.00 
100,000.00 
1,750.00 
16,600.00 
25,000.00 
32,333.33 






Atlanta Compref^s Company, stock 


1 
! 


East Tennessee Telegraph Co , stock 


$100.80 




South westeru Construction Co., stock 




South Atlanta Export Co., stock__ . . 




Miscellaneous __ __ 


1,844.00 










Total- . _ 


323,683.33 


1,944.80 


$178,11.5.34 






Total I and II 


849, 183. 88 


1,944.80 


478 370 M 








Grand total— A and B 


25, 170, 190. 16 


186,027.92 


14,740,600.19 















188 



N. C. CORPORATION COMMISSION. 



BONDS OWNED. 
A. RAILWAY BONDS. 



Nanii!, 



I. 
Ala. .ent.R.R.ii come b rids and scrip _ 

Danville and Wcste'u R. R 

Elbeili'n Air Line 

High Poiat,R., \. and H ulhtru R. R.C 

North ' aroliua Mid and R. R 

Piedmont R. R 

Piedmont R. R 

SoutherQ Rail a a C i.,1n Kf nta. ky 

Soul hern Railwa* Co ,iu Msuis^ii pi __- 

Western North var.liuaR.R 

Washiugt n,Oiiio aid VtvStefU R.R 

Yadkin R.R.C<> 

Franklin ai^d Pitt-ylva ia R.R 

Lawrencevilie B.anch R.R 

So. Ry.C » , Memt'his Div .2d m rtgage . 

Memphis and thai lesion R. R 

Chester and Leaoir R.R 

U.S.G vernmetit 3 p-r ce I b )uds 

Carolina Midlai.d, 1st raoitgag 

Blackv. \ls'on and N ,1st mortiiage 

No-. Ala. Railv.aj , prit r 1 en 

Nor. Aia. Rail way .general lien 

Total 

II. 

Chester and Lencir R.R 

Blue Ridge R. R 

Hartwell Railway 

Pickens K. K 

Ky.and Ind. Br. Co., 1st rnorlgH^e 

Ky. and Ind. Br. C .,'2d morlgag" 

Tolal 

III 



Par Value. 



So. Ry.cousoli'd mortgage 5 })f^r c>-Mit b )n is in 
treasut•.^ . 



Atlantic and Yadkm bondvS sold during year. 

Total 

Total 1,11 and III 



$1,355 

1,051 
1.^0 
-102 
8:n 
500 
500 

3,01-0 
200 

1,321 
221 
615 
7J, 
30, 

1,500, 
{!00, 
12, 
170 
498, 
ilO, 
307 

1,021, 



,275.00 

,0:'0.00 

,000.00 

,0C0.00 

,000.0 

,000.00 

,000.00 

,000.00 

,000.00 

,100.00 

,000.0(1 

,000.00 

,50 . ( 

,000.00 

,000.00 

,000.00 

, 000. 00 

,00). 00 

,000.00 

,000.00 

,000.00 

,20 '.00 



Kate, 

Per 

Cent. 



14,773,475.' 



75,500.00 

49!), 000. 00 

20,000.00 

29,000.00 

223,000.00 

383,700.00 



1,177,200.00 



1,394,000.00 



In'errst 
ReC' iv» d. 



Valuation. 



$840. 00 
2,550.00 



,050.41 



10,4 10.41 



S7, 990, 591. 40 



5, 285. 00 



5,285.00 



1,394,000.00 
17,344,675.00 



8,166.67 



8,166.67 
2^,892.08 



403,047.55 



1,394,000 09 



9,787,638.95 



SOUTHERN RAILWAY COMPANY. 



189 



BONDS OWNED— Continued. 
B. OTHEli BONDS. 



Name. 


Par Value. 


Rate 
Per 1 

Cent 


D vidend 
Received. 


Valuation. 


Sheffi'-ld Mach ne Works 1st mo 


' tgage 


S 00,000.00 

100,000.00 

17,4J4,«7.->.00 


6 




::i: 










Total 






$25,000 00 















Grand l<t'i AaiidB 


^i:l8\)- 


.08 


9,812,63S.*r, 







COMPARATIVE GENERAL BALANCE SHEET. 



JUNE 30, 1898 



It'^j*. 



$251,105,986.93 
11,892,783.07 
8, 147, 675. 73 
9,918,586.51 
12,474,845.00 
375,155.00 
7,400.00 
4, !74,hOH.0O 

1,078,538.72 
104,272.:^H 
18,521.13 
173,311.12 



299,471,883.57 



177,290,400.00 

101,438,817.76 

l,000,r0'.00 

3,922,668.19 

50,000.00 

; 24,429.55 

249, 89 i. 07 

620, 37(1. 27 

7 , 400. 00 

12,850,00 .(0 

62,913.71 



Cost of road 

Cost of equipment— „„ 

Stocks owned .-. 

Botids owned 

Cost of road (leasehold estate) 

Equipment leased controlled lines — 

Equipment— other lines 

Casli and current assets 

OTHER ASSETS. 

Materials and supplies 

Sinking fund 

Sundries 

Bills receivable— deferred by secured 
Grand total 

LIABILITIES. 

Capital stock 

Funded debt 

Certificate o; indebtedness 

Current liabilities 

Real estate raortiat?es 



YEAR ENDIN ■ JUNE SO, 18^9. 



Itf-m. 



$252,877,010.02 

12,507,307.95 

14,740,600,19 

9,812,638 95 

20,473,934.38 

1,086,171^.86 

3,()40.00 

5,41)6,918.89 

l,i93,8"2.73 

1 0,514.81 

3,515.86 

179, i:)0.79 



Increasie Decreasf 



.11,771,0)3 09 






614,524.88 




6,592,921.46 




$105,947 


56 


7,999,080.38 




— 



711,024.86 



3,760.'0 



318,505,3)4.43 



Accrued intere-1 on funded debt an<) 
accrudd lent^ls not y«t payable. 



Taxes accrued, not due 

Keserve funds 

Equipment— sundry roads- 



180,000,000.00 

101,172, 91.63 

2,95^000.00 

4,40^490.78 

5S, 000. 00 

597,465.36 | 



1,322,110.89 

115, 334. 'U 
26, 242. 4 > 

5,879.67 



15,00^27 



19,03:^470.86 



2, 701t, 600. 00 ; 

2,73:i,473.87 ^ 

1,950,000.00 i 

485,822.29 \ 

8,000.00 I 

7 ',035.81 



I 



1.454,951.72 



299,47l,8h3.57 



Outstanding securities of leasehol 1 es- 
tates. 



Sundry accounts 

Reserve fund for dividend No. 4. 

Profit and loss 

Grand total 



287,821.67 j 37,925.60 
1,530,872.42 910,496.15 

3,640.00 

21,508,000.00 i 8,658,000.00 



3,760.00 



22,208.69 ; 40,7!5.02 

6(0,00.1.00 '00,000.00 
2,366,563.88 911,612.16 



318,503,354. 43 19,033,470.86 



190 



N. C. CORPORATION COMMISSION. 



EMPLOYEES AND SALARIES.— North Carolina. 
LEASED AND OWNED LINES 



Class. 


Number. 


Total 
Number 
of Days 
Worked. 


Total 

Yearly Com- 

pensati' n. 


Average 
Duly 

Compen- 
sation 


General administration 


61. 

837 

596 

1 , 550 


22,553 
264, 752 
197, 150 


$65,988.00 
225,345.11 
291,003.39 
890,858.11 


$■2.93 

.90 

1.47 

1.66 


Maintenance of way and structures 


Maintenance t>f equipment 

Conducting transportatioo . . 






Total (including " Gener<a officers")— 
Nortli Carolina. 


S,OU ! 1,022,5.14 


1, 473, 194. 61 


1.41 


T<)fal entire line 


18,313 6,098,835 


9,534,334.35 


1.56 





PASSENGER AND FREIGHT, AND TRAIN MILEAGE.— North Carolina. 



Item. 



' oluutn for 
T< nna^e, 

No Passeu 

g^r>. No. 

Trans 

Mile-ige, 

No. Cars 



Passenger Traffic— 

Numb' r (jf pa-sengers carried earning revenue 715,038 

Number of passengers carried one mile [ 30,000,976 

Numberof passengers carried one mile per mile <jf road. 42, 201 

41.H6 



Aveiage distance carried 

Total passenger revenue 

Average amount rtceived fram each passenger i 

Average receipts per passenger per mile ' 

Total passenger earnings ; 

Passenger earnings per mile of road ; 

Passenger earnings per train mile 

Freight Traffic— 

Number of tons earn* d ( f freight earning revenue 1,980, 109 

Number of tons carried one mile J210,727, 119 

Nu'nber of tons cairied one mile per mile of road 1 196,423 

Average distance haul of one ton 106.42 

Total freight revenue 

Average amount received for each ton of freight 

Average receipts per ton per mile .— . 

Total freight earnin gs 

Freight earnings per mile of road 

Freight earnings per train mile 



Columns for Revenue 
and Rates 



Dollars. 



827,813 

1,161 

1 



2,027,761 



2,027,761 

2,852 
1 



Cents 



Mills. 



82 
02 

82 
39 

I 47 I 



669 
256 



831 



407 
P62 



024 



SOUTHERN RAILWAY COMPANY 



191 



PASSENGER AND FREIGHT, AND TRAIN MILEAGE— North Carolina. —Continued. 



Item. 


Column for 
Tonnage, 

No. Pa^seu 

gers. No. 

Tiains, 

Mileage, 

No. Cars. 


Columns for Revenue 
and Rates. 


Passenger and Freight— 

Passenger and fi eight revenue 




Dollars. 

2,701,681 

3,803 

2,855,575 
4,0l6 

2, 86J, !)-9 

4,027 

1 

1,568,131 
•i, 205 


Cents' Mills. 
19 


Passenger and freight revenue per n ile of load 




18 


Passetiger and freight earnings 




JO |- 

67! 


Passenger and freight earnings per naile of r^'Hd 




S5 


Gross earnings from operation 


_. _ 


65 


Gross earnings from operation per mile of road 




19 


Gross earuings from operation per train mile 




32 : 456 


Operating expenses- ___ 




47 


Operating expenses per mile of ro id __ 





84 


Operating expenses per train mile _____ 




72 i .^nl 


Train Mileage— 

Miles run by passenger trains .___„ _ 


715,010 

1,177,628 

268,772 








Miles run by freight trains - _ 




Miles run by mixed trains 










Total mileage trains earning revenue 


2,161,410 
24?, 019 
173,636 










Miles lun by switching trains 

Miles run by construction and other trains. _ 












Grand total train mileage 

Mileage of loaded freight cars -north or east_ 


2,581,065 
13,334,679 
6,721,534 
749,063 
7,768,982 
20.64 
14.54 
6.10 
152.79 
10.51 










Mileage of loaded freight cars— south or west 

Mileage of empty freight cars— north or east. _ . _ 




Mileage of em pty freight cars— south or west 

Average number of freight cars in train . 





Average number of 1 'adeo ca s in train 




Average number ot empty cars in train „ 

Average number of tons of freight in train ._ 





...... 




Average number of tons of freight inearth loaded c.ir__ 





192 



C. CORPORATION COMMISSION. 



PASSENGER AND FREIGHT, AND TRAIN MILEAGE— Entire Line. 



Item. 



Passenger Traffic— 

Number of passengers carried earning revenue 

Number of passengers carried one mile 

Number of passengeis carried one mile per mile of road 

Average distance carried 

Tolal passenger revenue 

Average amoi^nt received frorii each passenger 

Average receipts per passenger per mile 

Total passenger earnings 

1 assenger earnings per mile of road 

Passenger earnings per train mile 

Freight Traffic - 

Number ol tons carried of ireight earning revenue 

Numl er of tons carried one mile .„ 

Number of tons canned one mile per mile of road 

Average distance haul of one ton 

Total freight revenue 

Average amount received for each ton of freight 

Average receijuts per ton per mile 

Tutal freight earnings 

Freight earnings per mile of road 

P'l eight farniijgs pi^r trairr mile 

I'ASSENGER AND FREIGHT— 

Passenger and freight revenue 

PdSSPDger and fre ght revenue per mile of road 

Passenger and freight earnings 

Pasi-enger and freight earaicgs per mile of road 

GroS's eanings from operation 

Gross earnings from operation per mile of road 

Gross earnings from operation per train mile 

Operating expenses 

Operating expenf^es per mile of road... 

Operating ex pt rises per train mile 

Income from operation 

Income Irom operation per mile of road 



Column lor 
Tonnag<^, 

No. Passen 

ger-', No. 

Trains, 

Mileage, 

No. Cars. 



Columns for Revenue 
and Rates. 



Dollars. 



5,2:0,326 

317,407,407 

59,025 

60.34 



Cents 



Mills. 



,253 



8, 998, 087 
1,673 

1 



14 i 

34 I 654 

02 I 232 

94 1 

28 

06 735 



10,412,841 
1,791, 17;^. 481 j 
333,087 I 
172.02 ; 



16,099,293 

1 



16,099,293 j 28 

2,993 I 83 

1 i 44 



23,182,546 
4,311 

25,097,381 
4,667 

25,353,686 
4,714 

A 

1 ,539,111 j 
3,075 ' 



,814,574 
1,639 



610 



991 



-J 2 




03 




22 




11 





07 





77 




29 


793 


40 




61 




81' 


669 


67 




16 





SOUTHERN RAILWAY COMPANY. 



193 



PASSENGER AND FREIGHT, AND TRAIN MILEAGE— Continued. 



Hem. 



Train Mileage— 

Miles run by passenger trains 

Miles run by freight trains 

Miles run by mixed trains 

Total mileage trains earning revenue 

Miles run by switching trains 

Miltrs run by construction and other trains 

Grand total train mileage 

Mileage of loaded freight cars--norlh or east 

Mileage of loaded freight cars— south or west 

Mileage of empty freight cars— north or east 

Mileage of empty freight cars— south or west 

Average number of freight cars in train 

Average number of loaded cars in train 

Avetage number of empty cars in train 

Average number of tons affreight in train 

Average number of tons of freight in each loaded car- 



Column for 
T< nnage. 

No. Pa*sen- 

gprs, No. 

Trains, 

Miieag<r, 

No. Cars. 



8,108,515 
10, !3S,219 

1,287,169 
19,513,903 

3,735,162 

1, 34 -^,258 



Columns f - r Revenue 
and Rates. 



24,611,323 
81,392,321 
()5, 966, 708 
22,405,252 
37,744,247 
18.69 
13.27 
n.42 
161.31 
12.16 



Dollars. 



Cents 



Mills. 



RENTALS RECEIVED, 



Designation of 
Property. 


fcSituatl'm of Property 
Leased 


Name of Company 
Owning Property Leased. 


Item. 


Total. 


Tracks _ _ 


Hickory to Newton 

Greens, N.C 


C. and N. W. R. R 


$1,050.00 

77.95 






Hundley Bros 












Total 






«1, 127.95 


Terminals 


Hickory, N. C 


C.and N. VV. R. R 

C.andN.W.R.R 


120.00 
120.00 




Newton, N.C - 








~ 


Total 




240.00 










Grand t^ital rents 


1 367 95 


received. 











-13 



194 



N. C. CORPORATION COMMISSION. 



FREIGHT TRAFFIC MOVEMENT— All Lines North Carolina. 



Commodity. 



Pjboducts of Agriculture — 

Grain 

Flour 

Other mill products 

Hay 

Tobacco— leaf 

Cotton 

Fruit and vegetables 

Melons 

Cotton seed 

Cotlon-s^eed meal, cake, hulls and oil 

Products of Animals— 

Live stock 

Dressed meats 

Other packinghouse products !__ 

Poultry , gatue, and fish 

Wool 

Hides and leather 

Products of Mikes— 

Marble 

Anthracite coal 

Bituminous coal 



Freight 

Originating 

on this 

Road. 



Whole Tons 



Freight Re- 
ceiven from 
Connecting 

Roads 
and other 
Carriers. 



WTiole Tons. 



Coke. 



Ores 

Stone, sand, and other like articles. 
Barytes, kaoJin and talc 

Products op Forest— 

Lumber and logs 

Charcoal 

Shingles, staves and headings 

Manufactures— 

Petroleum and other oils 

Sugar and molasses 

Naval stores 

Iron, pig and bloom 

Iron and steel rails , — 



Total 
Freight Tonnage. 



Whole Tons 
47,866 
68,033 
38, 461 
11,007 
84,500 
' 149,969 
3^,323 
20, 609 
16,310 
5-2,713 

26, 2:^4 
1,250 

28,549 
1,730 
1,238 

10,068 

8,164 

5,880 

403,277 

845 

27, 161 

19,921 

19,522 

301,049 

209 

11,015 

10, 278 
19,042 

5,670 
125,702 

7,213 



SOUTHERN RAILWAY COMPANY 



195 



PASSENGER TRAFFIC MOVEMENT -Continued. 



Commodity. 


Freight 

Originating 

on this 

Road. 


Freight Re- 
ceived from 
Connecting 

Roads 
and other 
Carriers. 


Total 
Freight Tonnage. 


Other castings and naachinery _ - 


Whole Tons. 


Whole Tons. 


Whole Tons. 

30,451 

26,975 

30,435 

4,610 

8,558 

8,975 

15,458 

18,007 

118,154 

216,522 

123,807 

6,665 

131,156 


Per Cent 
1.36 


Bar and sheet metal - - - 




1.20 


Cement briclc and lioae 


i 


1.36 


Agricultural implements ^- - 


1 ' 


.21 


Wagons carriages, tools, etc _ _ 


i 


.38 


Wines liquors, and beers 




.40 




_ „ . i 


.69 


Manufactured tobacco . - 


1 


.80 


Fertilizers _ _. _ . 






5.27 


Merchandise _ 






9.66 


Cotton factory products 






5 52 









30 


Misceilanf ous — other commodities not men 






5 85 


tioned above. 
Total tonnage — North Carolina 












2,241,611 


100 00 










Total tonnage — entire line 






10,412,811 


100. 00 




_ 







MILEAGE. 
B. MILEAGE OF LINE OPERATED BY STATES AND TERRITORIES. 





LINE REPRESENTED BY 
CAPITAL, STOCK. 


Line of 
Proprietary 
Com panics. 


Line 




Main Line. 


Branches and 
Spurs. 


Under Lease. 


District of Columbia 




.22 
191.12 
350.62 
45.06 
138.70 
195.65 




• 


Virginia _ _ __ __ 


416.54 
239. 60 
322.20 
478.80 
610.45 




61 2(J 


North Carolina 


339.74 
163.58 
50.60 


266.50 
365 60 


South Carolina _ 


Georgia 


280.70 
148 55 


Alabama __ 


Mississippi 






Tennessee _ _ _ .. _ 


380.00 


176,37 


69.32 
123. 20 




Kentucky _ _ _ _ _.._ _ _ 












Total miles operated (single track) 


2, 447. 59 


1,097.74 


746. 44 


1,122.55 



196 



C. CORPO RATION COMMISSION. 



MILEAGE— Continued. 
B xMlLE VGE, Etc.- Continued. 



STATE OB TERRITORY. 



District vf Columbia- 
Virginia 

Nortli Carolina 

South Carolina 

Georgia 

Alabama 

Mississippi 

Tennessee 

Kentucky 



Line 
Operated 

Under 

Contract, 

etc. 



9.80 



272.97 



Totai mi eage operated 
(single track). 



282.77 



Line 
Operated 

Under 
Trackage 

Riglats. 



2.05 

39. 85 
120.68 



O. 10 

42.00 
18.80 

21.50 
11.55 



Total 
Mileage 
Operated. 



2.27 
708.71 
1,317.14 
996.44 
863.76 
996. 65 
291.77 
647. 19 
134.75 



26 1.. 59 



5,958.68 



New Lice 

Con- 
structed 
During 
Year. 



27.47 



31.10 



Iron. 



36.83 
45.29 
.38 
9.85 
36.33 
24.50 
25.75 



Steel. 



178.93 



.22 
632.03 

1,151.17 
896.06 
948. 75 
918.32 
218.47 
599. 94 
123.20 

F, 518. 16 



C. MILEAGE OF LINE OWNED BY STATES AND TERRITORIES. 



STATE OR TERRITORY. 



District of Columbia 

Virginia 

North Carolina 

South Carolina 

Georgia 

Alabama 

Mississippi 

Tennessee 

Total mileage owned (single track). 



LINE REPRESENTED 
BY CAPITAL STOCK. 



Main 
Line. 



416.54 
239. 60 
322. 20 
478. 80 
610. 45 



380.00 



2,417. 



Branches 
and Spurs 

.22 
200.52 
350. 62 
45.06 
138.70 
195.65 



176.37 



1,107.14 



Total 
Mileage 
Owned. 



.22 
617.06 
590. 22 
367. 26 
617.50 
806. 10 



5£6.37 



3,554.73 



Iron. 



7.93 

42.59 

.38 

.28 

36.33 



25.75 



113.26 



Steel. 



.22 
609. 13 
547. 63 
366.88 
6 7.22 
769.77 



.30. ()2 



3,441.47 



ATLANTA AND CHARLOTTE AIR LINE RAILWAY COMPANY. 



197 



Southern F^ailway — Continued 



LINES CONrROLLED AND OPERATED BY LEA.SE OR OTHERWISE I.V NORTH 

CAROLINA. 



Atlantic and Yadkin Railway Company 

Atlanta and Charlotte Air Line Railway Company 

Asheville and Spartanburg Railroad Company 

High Poict, Randlemau, Ashboro and Southern Railroad Company- 
North Carolina Railroad 

North Carolina Midland Railroad Company 

State University Railroad Company 

Yadkin Railroad Company 

Total 



166 


22 


42 


95 


41 


90 


26.80 


223 


55 


53.02 


10.20 


41 


00 



606. 24 



Atlanta and Charlotte Air LiQe F^ailWay Compaoy 



PROPERTY OPERATED.— State of North Carolina. 

Atlanta and Charlotte Air Line Railway Company, from Air Line Junction, Char 

lotte, N. C , to Stale Line, South Carolina (miles) 42. 95 



PROPERTY OPERATED.— Entire Line. 



Atlanta and Charlotte Air Line Railway Company Air Line Junction, Charlotte, 
N. C, to Atlanta, Ga. (miles) 



Georgia Railroad Company, entrance to Union Depot, At Ian ta,Ga. (miles). 
Total 



268.17 
.74 



268.91 



198 



N. C. CORPORATION COMMISSION. 



DIRECTORS. 



Name of Director. 


Post-office Address. 


Date of Expiration of 
Term 


C.S.Fairchild . _ - 


46 Wall street, New York City 

Dakota A pai ttr eut House, N.Y. City 
21 Exchange street, Rochester, N. Y. 
207 North Calvert St., Baltimore, Md 

Baltimore, Md 

Temple Court, New York City 

86 Trinity i^lace, N. Y ___ 


March 8th , 1900. 


B R Mc Alpine 


March 8th 1900 


H W Sibley 


March 8th 1900 


Skipwith Wilmer 


March 8th 1900 


Michael Jenkins 


March 8lh, 1900. 


Edward Keliy . 


March 8th, 1900. 


Augustus D.!Shepard_ 


March 8th, 1900. 


Ebenezer S. Mason 


48 Wall street. New York City 

Richmond, Va 

32 Wassaw street. New York City ___ 

21 Cjurtlandt street. New York 

48 Wall street, New York City 


March 8th, 1900 


Joseph Bryan 


Vlarch 8th 1900 


Frederick CroTriwell 


March 8th 1900. 


John A Middleton 


March 8th, 1900. 


George F. Canfield 


March 8tb,1900. 







OFFICERS. 



Title. 


Name. 


Location of Office. 


Chairman of the Board 


B.R.Mc Alpine 




President- _ 


Charles S. Fairchild — 




Secretary _ 


W. W. Wilmer _ _ 




Treasurer 


George H.Sherman . _ _ 




Division Superintendent 


W.B.Ryder ___ . 


Charlotte, N. C. 







CAPITAL STOCK 

Capital stock, common—number of shares authorized- 
Par value of shares 

Total par value authorized 

Total amount issued and outstanding 

Rate of interest, 6 per cent. 
Amount of dividends declared during year 



17,000 

SIOO.OO 

1,700,000.00 

1,700,000.00 

102,000.00 



ATLANTA AND CHARLOTTE AIR LINE RAILWAY COMPANY. 



199 



FUNDED DEBT. 
MORTGAGE BONDS, MISCELLA.NEOUS OBLIGATIONS, AND INCOME BONDS. 





TIME. 






Amount 
Issued. 

$500,000.00 
4,250,000.00 


Amount 
Outstanding. 


Cash Real- 


CLASS OF BOND OR 
OBLIGATION. 






Authorized 
Issue. 


ized on 
Amount 

Issued. 


First preferred mortgage — 


1897 
1877 


1907 
1907 


$500,000.00 
4,250,000.00 


$500,000.00 
4,250,000.00 








Total 


4,750,000.00 
750,000.00 


4,750,000.00 
750,000.00 


4,750,000.00 
750,000.00 




Income mortgage 


1880 


1900 








Grand total 


5,500,(00.00 


5,500,000.00 


5,500,000.00 














rD OR 

N. 




INTEREST. 


CLASS OP BO> 
OBLIGATIO 


Rate 

Per 

Cent. 


When 
Payable. 


Amount 

Accrued 

During Year. 


Amount 
K'aid Dur- 
ing Year. 








4 

7 


April & Oct. 
Jan. & July 

April & Oct 


$20,000.00 
'297,500.00 


$20, 000. 00 








297,500 00 












Total 


317,500.00 
45,000.00 


317,500.00 




6 


45, 000. 00 
















362,500.00 


362, 500. 00 















RECAPITULATION OP FUNDED DEBT. 



CLASS OF DEBT. 



Mortgage bonds 

Income bonds.- 

Total 



Amount 
Issued. 



.$4,750,000.00 
750,000.00 



5,500,000.00 



Amount 
OutstandiDg. 



M, 750, COO. 00 
750,000.00 



5,500,000.00 



INTEREST. 



Amount 
Accrued Dur- 
ing Year. 



Amount 

Paid During 

Year. 



$817,500.00 $317,500.00 
45,000.00 45.000.00 



362,500.00 



362,500.00 



HECAPITULATION. 





Total 

-' mount 

Outstanding. 


Apportion 

ment t'* 

Railrc.ads. 


AMOUNT PER 


MILE OF LINE. 




MileP. 


A mount 


Capital stock _ 


$1,700,000.00 
5,500,000.00 


All 
do 


268. 17 
268. 17 


$6,839.00 


Bonds 


20,510.00 




Total -_ _ . 


7,200,000.00 




268. 17 


26,849.00 







200 N. C. CORPORATION COMMISSION. 

COST OP ROAD, EQUIPMENT, AND PERMANENT IMPROVEMENTS. 



Cost of construction, equipment, etc 

Cost of construction and equipment, per mile. 



$7,200,000.00 
26,848.63 



EARNINGS FROM OPERATION— State of North Carolina. 



Item. 



Total 
Receipts. 



Deductions, 
Account of Re 
payments, etc 



Actual 
Earnings. 



Passenger— 

Passenger revenue 

Less repij ments— 

Tickets redeemed 

Excess fares refunded 

Other lepaymenis 

Total deduct! >ns . 

Total passenger revenue 

Mail 

Express 

Extra baggag^i and storage.- 

Other items 

Total passenger earnings 

Freight— 

Freight revenue 

, Less repayments — 

Overcharge to shippers 

Other repayments 

Total deductions 

Total freight revenue ^. 

Total freight earnings 

Total passenger and freight earnings 

Other Earnings from Operation— 

Switching charges — balance 

Rents not otherwise provided for 

Other sources 

Total other earnings 

Total gross earnings from operation— N. C. 



Total gross earnings from operation— en- 
tire line. 



$112,084. 



1 

y $7, 175. 12 
I 
J 



7, 175. 12 



$104,859.16 

39,948.86 

9, 6 17.. 53 

1,166.75 

!6]..52 



196, 227. 



,212.73 



8,212.73 



155,753.82 



188,015.21 



188,015.21 



343,769.03 

408.22 
207. 42 

871.94 



1,^82.58 
845,251.61 



2,029,449.53 



ATLANTA AND CHARLOTTE AIR LINE RAILWAY COMPANY 



201 



OPERATING EXPENSES— Entire Line. 



Operating Expenses— 

MaintenaDce of ways and structures 

Maintenance of equipment 

Conducting transportation 

General expenses 

Grand total 

Percentage of expenses t > earnings — entire line 

Taxes 

Total operating expenses and taxes 

OPEBA.TING Expenses— State of North Carol, ina.- 

Maintenance of wav and structures 

Maintenance of equipment 

Conducting transportation 

General expenses 

Total 

Percentage of expenses to earnings — North Carolina 
Taxes 

Total operatlrtg expenses and taxes 



$3'>',410.42 

2>3,892.0i 

'[S^Gyi.Ol 

(■i'2,0;57.92 

I,43t,011.36 





70. 6o 


(>2 


757.69 


1,496 


7(>9. 05 


= 


== 


7H 


(^81.63 


^->, 


7h0.65 


11 > 


410.98 


10 


159.62 



244,062.88 

70.69 

10,26:1.88 

254, 32ii. 76 



RENTALS PAID. 
B. RENTS PAID FOR LEASE OF TRACKS, YARDS, AND TEFIMINALS. 



Designation of 
Property. 


Situation of Property 
Leased. 


Name of Company Own- 
ing Property Leased. 


Item . 


T. tul. 


Tracks— 


Atlanta 

Atlanta -_ 


Central of Ga. Rwy 


Sii.400.ro 






N.C.&St.L. Rwy _ - 5.625.()0 






Atlanta 


Ga. R.R.Co 


8,250.00 
666. 67 




. 


Greenville, S.C - - 


H.C. Beattie _._ __ 






Clifton & i;on verse, S. C 


Clifton Mfo-. Co 3 000.00 








' 




Total 




$18,911.67 










Grand total rents — B 


18,941.67 









202 



N. C. CORPORATION COMMISSION. 



PASSENGER AND FREIGHT, AND TRAIN MILEAGE— Stata of North Carolina. 



Item. 



Column for 
Tonnage, 

No.Passen 
gers. No. 
Trains, 
Mileage, 
No. Cars. 



Columns for Revenue 
and Rates. 



Passenger Traffic— 

Number of passengers carried earning revenue 

Number of passengers carried one mile 

Number of passengers carried one mile per mile of road 

Average distance carried 

Total passenger revenue 

Average amount received from each passenger 

Average receipts per passenger per riQile 

Total pas-seoger earnings 

Passenger earnings per mile of road 

Passenger earnings per train mile 

Freight Traffic— 

Number of tons carried of freight earning revenue 

Number of tons carried one mile - 

Numberof tons carried one mile per mile of road 

Average distance haul of one ton 

Total freight revenue . 

Average amount received for each ton of freight 

Average receipts per ton per mile 

Total freight earnings 

Freight earnings per mile of road 

Freight earnings per train mile 

Passenger anb Freight— 

Passenger and freight revenue 

Passenger and freight revenue per mile of road 

Passenger and freight earnings 

Pa&senger and freight earnings per mile of road 

Gross earnings from operation 

Gross earnings from operation per mile of road 

Gross earnings from operation per train mile 

Operating expenses 

Operating expenses per mile of road 

Operating expenses per train mile 



Dollars. 



149,113 

4,482,197 
■ 104, a5S 
S0.U6 



555, 615 
22,389,490 
520,128 
40. 'a 



$101,859 



155,753 

3,626 

1 



,015 



188,015 
4,377 

1 

292, 874 

6,818 
343,769 

8,003 
345,251 

8,038 

1 

244,062 

5, 682 
1 



Cents Mills. 



21 

33 839 

842 

21 

54 

; 3 017 



ATLANTA AND CHARLOTTE AIR LINE RAILWAY COMPANY. 203 

PASSENGER AND FREIGHT, AND TRAIN MILEAGE— Continued. 



Item. 


Column for 
Tonnage, 

No. Passen- 
gers, No. 
Trains, 
Mileage, 
No. Cars. 


Columns for Revenue 
and Rates. 


Train Mileage— 

Miles run by passenger trains 

Miles run by freight trains 


97,908 
122,219 

871 


Dollars. 




Cents 




Mills. 


Miles run by mixed trains 








Total mileage trains earning revenue 

Miles lun by switching trains 

Miles run by construction and other trains 

Grand total train mileage 

Mileage of loaded freight cars — north or east 


220,998 

45,016 

9,127 









275, 141 

1,218,53() 

768,418 

97,956 

314,742 




Mileage of loaded freight cars — south or west 




Mileage of empty freight cars— north or east 

Mileao'e of empty freight cars — south or west 




Average number of ftei'^ht cars in train 


19.53 
16.17 
3.36 
181.81 
11.21 




Average number of loaded cars in tiain 




Average number of empty cars in train 








Average number of tons of freight in each loaded car.- 















INCOME ACCOUNT— Lessor's Report. 



Tncome from leasp of roarii 




$468,500.00 






Total income _ _ . 


468,500.00 


Deductions from Income— 

Salaries and maintenance of organization 


$4,000.00 
362,500.00 




Interest on funded debt accrued 




Total deductions from income 


366,500.00 






Net income 


102,000 00 








Dividends, 6 per cent common stock. 


102, TOO. CO 









204 



N. C. COKPORATION COMMISSION. 



Atlantic and YadKiO Railway Compaoy. 



DIRECTORS, 



Name of Director. 


Post-rffice Address. 


Expiiation of Term, 


W.Walters 


Wilmington N. C 


1 


Michael Jenkins 


Baltimore, Md 




P.J. McKenoa 


B iltimore, Md 


When their successors 
aie e e ted. 


B.F. Newcomer 


Baltimore, Md 


Alex. Hamilton 


Petersburg, Va 


j 









OFFICERS 



Title. 


N 


Ame. 


L( cation of Office. 


President 


A B Andrews 


Raleigh, N.C. 
Raleigh, N.C. 
Wsshin^tou D C 


Secretary _ 


H. W. Vliller 


Treasurer 


H.C. \nslev 


Auditor 


A.H. Plant 


Washino-toii D C 


Division Superintendent 


N. J. O'Brien 


Greensboro, y.C. 



PROPERTY OPERATED. 



Sanford,N. C.,to Mt. Airy,N.C _____ 




180 95 


Ramseur to Ciiiuax 


18.74 

11.89 

1.10 

2.02 

2.02 




Stokesdale to Madison 




Gulf to Buff Quarry 




Greensboro to Proximity Mills 




Mt. Airy to Granite Quarry _ 








Total - 




16K.22 









CAPITAL STOCK AND FUNDED DEBT. 



Capital stock 

Mortgage bonds 

Capital stock per mile- 
Bonds per mile 



$1,000,000.00 

1,500,000.00 

6,016.00 

9,024.00 



ASHEVILLE AND SPARTANBURG RAILHOAD COMPANY. 205 

COST OF ROAD. 



Construction and equipmeot. 
Cost per mile 



$2,500,000.00 
15,0J0.00 



The property is operated by Southern Railway through ownetship of securities. 



Asheville and Spartar}burg Railroad Compaoy. 



DIRECTORS. 



Nameof Director. 



Post-rffice Add I ess. 



A.B.Andrews i RAleJi:h,N.C 

W. A. Fir.lt T Washington, D. C 

P. H. Hants i Winston, N.C — _ 

H . WMMiller ! Raleigh, N. C 

J.H. McAden ' Chariot* e, N .C — 

C4. A.Mebine A*hevile,N. C - — 

E. B. Wells Raleigh, N. C 

Jas.Swann New York,N.Y_- 



Date of Expiration of Term. 



December 5th, 1899, or un- 
yui their s-uceei-st-rs are 
elected. 



OFFICERS. 
W. B.Ryder, Sapenntenden} Charlotte, N. C. 



PROPERTY OPERATED.— Entire Line. 

Asheville and Spartanburg Railroad fioru Asheville, N.C, to Alston, S.C., 133.40 miles. 
41.90 miles in North Carolina. 



CAPITAL STOCK. 

Capital stock— common — number of shares authorized _.. 

Par value of shares 

Total par value auiho ized „ 

Total amount issutd and oulstandiug 



10,500 

Si 00. 00 

1,050,000.00 

1,0-0,000.00 



206 



N. C. CORPORATION COMMISSION. 



EARNINGS FROM OPERATION.— State of North Carolina. 



Item. 


Total 

Receipts. 


Deductions, 

Account of 

Repayments, 

etc. 


Actual 
Earnings. 


Passenger— 

Passenger revenue. _ .-. 


$59,627.78 








$738.20 
738.20 




Less repayments- 
Excess fares I'efunded 






Total deductions ^ _ 










$58,889.58 
4,812.33 
8, 619. 47 


Mail- -,- _ _.- „ 






Express . 






Extra baggage and storage 






928 44 


Other items 






121.14 










Total passenger earnings 


6s, 370.96 


Freight— 

Freight revenue . 


99,693.18 




Less repayments- 
Overcharge to shippers __ , 


1, 670. 41 










Total deductions 


1,670.41 




Total freight revenue 




98,022.77 








Total freight earnings 


98,022.77 










Total passenger and freight earnings _ 


166,393.73 


Other Earnings trom Operation— 

Switching charges — balance . 






4'. 45 


Rents not otherwise provided for 




._ 


76.94 


Other sources . . . 




• 


83.68 










Total other earnings 


206.07 


Total gross earnings from operation- 
North Carolina. 

Total gross earnings from operation- 






166, 599. 80 






544,204.10 











FUNDED DEBT. 



First mortgage— date of is.sue, 1895 due 1995. 

Amount issued and outstanding 

Rate of interest 4 per cent— payable January and July. 



$1,000,000.00 



ASHEVILLE AND SPARTANBURG RAILROAD COMPANY. 



207 



OPERATING EXPENSES. 



Item. 



Operating Expenses— Entire Line— 

Maintenance of way and structures.— 

Maintenance of equipment 

Conducting transportation 

General expenses 

Total 

Percentage of operating expenses to earnings— entire line 
Taxes _ 

Total operating expenses and taxes 

Operating Expenses— State of North Carolina— 

Maintenance of way and structures 

Maintenance of equipment 

Con ducting transportation 

General expenses 

Total . . 

Percentage of expenses to earnings— North Carolina 

Taxes 

Total operating expenses and taxes 



Amount. 



$7(3,o93.82 
79,213.06 

209, 570. 73 
ir,,2o8.90 



381,4o6.51 



70.09 

15,206.22 

396, 70k'. 73 



26,0 6.48 

28, r>J 1.36 

78, 29(1. 68 

4,901.10 

I.i7,sl9.62 

82.72 

3, f 95. 12 

141, 514. 74 



INCOME ACCOUNT. -Entire Line. 



Gross earnings from operation 










$544,204.10 
381,436.51 




Less operating expenses _ 




Income from operation .__ 


§; 1 6.', 767. 59 












40,000.00 
15,266.22 




Deductions from Income— 

Interest on funded debt accrued. __ 




Taxes 
















Total deductions from income- 




55,266.22 












... 




Net income. ._. 


107 50] 37 




ing June 30, 
eral Baianc 


1899—-.. 








Surplus from operations of year end 


107,501.37 




e Sheet,' 


1898 






Deficit on June 30, 1898 [from " Gen 


92, :- 69. 66 


Report]. 
Deductions for year 




3.09 




'General Balance Stieet"]. 






Surplus on June 30, 1899 [for entry on 


15, 128.62 









208 



N. C. CORPORATION COMMISSION. 



RECAPITULATION. 



Capital stick $1,050,000.00 

Capital stock per mile , j 7,842.00 

Bonds ' 1,000,000.00 

1 

Bonds— amount per mile I 7,469.00 



Co8t of road ^ $1,790,017.30 

Cost of road per mile 13,368.31 



CURRENT ASSETS AND LIABILITIES. 



Assets— due from solvent companif s_ 
Liabiliiies — mf.tured Interest unpaid. 
Aud ited vouchers 



$295,124.42 

20,000.00 

IS. 10 



hjigb Point, f^andlerT)ao, Ashboro and Southern 
Railroad Coropany. 



DIRECTORS. 



Name of Director. 



Post-office Address 



D^ile of Expiration of Term. 



A.B. Andrews, 

R. F. Dalton 

J. E.Cox 

A. C. McAlister 
J. E.Walker __- 

E.H.Lee 

W.H.Ragan 

y. Bryant 

W.P. Wood.__. 
H. M.Worth _„ 
O.W.Carr 



Raleigb,N.C 

High Point, N.C. 
HighPoin^N.C. 
Ashboro.N.C — 

Ashtjor;>, N. C 

Raleigh, N.C 

High Point, N.C 
Randleman, N.C 
Ashboro, N.C — . 
Worthville,N.C- 
Trinity, N. C 



When their successors are 
elected. 



HIGH POINT, RANDLEMAN, ASHBORO AND SOUTHERN. 



209 



OFFICERS. 



Title. 


Name. 


Location of Office 


President 


A B. Andrew 


Raleigh, N. C. 
Washington, D.C. 
Raleigh, N.C. 


Vice-Pfesident 


W. W. Finley 


Secretary _ 


H.W.Miller 


Tieasurer 


H.r. Vnsley 


Washington, D.C. 
Washington, D.C. 
Greensboro, N. C. 


Auditor 


A.H.PJaut 


Division Superintendent . 


N.J. O'Brien 









PROPERTY OPERATED. 

High Point, Randleman, Ashbaro and Southern R. R.Co ,from High Point, N.C ,to Ashboro, 
N.C, 26. 80 miles. 



CAPITAL STOCK. 

Capital stock— common— number of shares authorized 

Far value of shares 

Total amount issued and outstanding 



5,000 

$•^0.00 

2o0,00D.00 



FUNDED DEBT. 
MORTGAGE BOND-;, MISCELLANEOUS OBLIG A.TIONS, AND INCOME BONDS. 



Class of bond or obligalioa— first morteage. Date of issue, 
due, April, 1989. 


April, 1889. 


When 




Amount ol authorized issue 






$10 ', COO. 00 


Amount issued 


402,000.00 


Amount outstanding _ 


402,000.00 


Cash realized on amount issued __ 


Rate ot interest, 6 per cent ; payable January and July. 








Capital stock, per mile 






9, 328. 00 
15,000.00 


Funded debt, per mile _ _ ... _ 


-. 



Current liabilities-.. 

2 14 



$189, 054. 7{ 



210 



C. CORPORATION COMMISSION. 



EARNINGS FROM OPERATION. 



Item. 


Total 
Receipts. 


Deductions, 

Account of 

Repayments, 

etc. 


Actual 
Earnings. 


Passenger— 

Passenger revenue 


$9,235.35 








-j 




Less repayments- 
Tickets redeemed _ 






Excess fares refunded 




y $6.67 
1 




Other repaymer ts . 














Total deductions 


6.67 


$9,228.68 
] , 439. 44 


Mail 




Express 






789. 10 


Extra bagg-ige and storage 






78.68 


Total passenger earnings 


11,535.90 


Freight— 

Freight revenue 

Less repayments- 


60,753.03 




I 5,'378;77 




Other repayments— - 












Total deductions 


5,378.77 











Total freight revenue 




55,374.26 






• 


Total freight earnings 


55,37J.26 
66,910.16 


Total passenger and freight earnings 


— _ 




Other Earnings from Operation— 

Switching charges— balance 


2.90 




44.77 












47.67 










Total gross earnings from operation— N. C- 


66,957.83 





OPERATING EXPENSES. 



MaintenaQce of way and structures 

Maintenance of equip nent 

Conducting transportation 

General expenses 

Total 

Percentage of expenses to earnings— North Carolina- 
Taxes 

Total operating expenses and taxes 



$6,759.20 
5,648.21 

16,074.08 
1,520.94 

30,002.43 



44.88 

912.49 

30,914.92 



HIGH POINT, RANDLEMAX, ASHBORO AND SOUTHERN. 



211 



PASSENGER AND FREIGHT, AND TRAIN MILEAGE. 



Item. 



Passenger Traffic— 

Number of passengers carried earning: revenue 

Number of passengers carried one mile 

Number of passengers carried one mile per mile road. 

Average distance carried 

Total passenger revenue 

Average amount received from each passenger 

Average receipts per passenger per mile 

Total passenger earnings 

Passenger earnings per mile of road 

Passenger earnings per train mile 

Freight Traffic— 

Number of tons carried of ireight earning revenue 

Number of tOLS carried one mile 

Number of tons carried one mile per mile of road 

Average difetance haul of one ton 

Tutal freight revenue 

Aver*)ge amount received f )r each ton of freight 

Average receipts per ton per mile 

T«, tal freight earnings 

Freight earnings per mile of road 

Freight earnings per train mile 

Passenger and Freight— 

Passenger and freight revenue 

Passenger and freight revenue per mile of road 

Passenger aid freight earnings 

Passenger and freight earnings per mile of road 

Gross earnings from operation 

Gross earnings from operation per mile of road 

Gross earnings from operation per train mile 

Operating expenses 

Operating expenses per mile of road 

Operating expenses per train mile 



Column for 
Tonnage, 

No Passen- 
gers, No. 
Trains, 
Mileage, 
No, Cars. 



20,111 
329,226 
12,285 
16.37 



73,071 
1,806,744 
67,416 
24.73 



Columns for Revenue 
and Rates. 



Dollars. 



9,228 



11,535 
430 



55.374 



55,374 

2,066 

4 

64, 602 

2,410 
66,910 

2, 496 
66,957 

2,^98 

1 

30,914 

1,153 



Cents 



Mills. 



lb I 781 
03 065 
2o ! 

20 I 

19 820 



212 



N. C. CORPORATION COMMISSION. 



PASSENGER AND FREIGHT, AND TRAIN MILEAGE— Continued. 



Item. 


Column for 
Tonnage, 

No. Passen- 
gers, No. 
Trains, 
Mileage, 
No. Cart-. 


Columns for Revenue 
and Rates. 


Train Mileage— 

Miles run by passeoger trains 


16,867 
594 


Dollars. 


Cents 


Mills. 


Miles run by freight trains - 




' 






16,794 
34, 255 








Total mileage trains earning revenue 








Miles run by switcliing trains- 


6,476 
2,383 








Miles run by constriictlou and other trains 

Grand total train mileege 

Mllea'^e of loaded freight cars — north or east 














43,114 
101,157 
34, 468 
1,448 
69, 464 
15.65 










Mileage of loaded freight cars — south or we^t 






















Averao'e number of freight cars in train 








Average number of loaded cars in train 

Avera'^e number of empty cars in train 


10.28 

5.37 














Avera'^e number of ions of freight in train 


136.97 
13.32 








Average numbgr of tons cf freight in each loaded car- 

















INCOME ACCOUNT. 



Gross earnings from operation 

Less operating expenses 

Income from operation 

Total income 

Deductions from Income— 

Interest on funded debt accrued 

Taxes 

Total deductions from income 

Net income 

Surplus from operations of year ending June 30, 



Deficit on Jui-e 30, 1898 [from "General Balance iSheet, 
Report] 



Deficit on June 30, 1899 [for entry on "General Balance Stfeet "]. 



$66,957.83 \. 
30,002.43 !- 



24,120.00 
912. 49 



$36,955.40 
36,955.40 



25,032. 



11,922.91 



11,922.91 

199,942.53 
188,019.62 



NORTH CAROLINA RAILROAD COMPANY. 
COST OF ROAD. 



213 



Cost of construction and equipment to June 30, 
Cost per mile 



$653,035.17 
24, 366. 97 



North Carolina Railroad Compaoy. 



DIRECTORS. 



Name of Director. 


Post-office Address. 


Date of Expiration of 
Term. 


John 8 Armstrong 


Wilmington, N.C 

.\Mheville,N.C 

Wilmington, N C 


Julv 13,1900. 


V S Lusk 


July 13,1900. 


William Gilchrist 


July 13, 1900. 
July 13, 1900. 


M T O'Brien 


Durham, N.C 

Ciiry.N. C 


J. C. Angler 

W B Ellis 


Juiy 13,1900. 


Winston, N.C 

Bessemer City,N C 


July 13,1900. 


J A Smith 


Juiy 13,1900. 
July 13,1900 


Lawrence S Holt 


Burlington, N.C 


R F Hoke 


Lincolnton, N.C 


July 13, 1900. 
July 13,1900. 
July 13,1900. 
July 13,1900. 


H W Fries 




Hugh McRae 


Wilmington, N C 


Benehan Cameron 


staggville, N. C 







OFFICERS. 



Title. 


Name. 


Location of office. 






Burlington, N.C. 


Division Superintendent _ _ 


N.J. O'Brien 









PROPERTY OPERATED. 



NAME. 


TERMINALS. 


Miles of 

Line for 

Each 

Road 

Named. 


Miles of 

Line for 

Each 

Class of 




From— To— 


Roads 
Named. 


North Carolina Railroad. _ 


Charlotte 


Goidsboro 


221.65 
1.90 




North Carolina Railroad — 


Caraleigh Junction.. _ 


Caraleigh 










Total — 


223.55 













214 



N. C. CORPORATION COMMISSION. 



EARNINGS FROM OPERATION. 
Lessee's Report. 



Item. 



T.)tal 
Receipts. 



Deductions, 

ACCOUtlt of 

Repa> ments, 
etc. 



Actual 

Eirnings. 



Passenger— ' 

Passenger revenue 

Less repayments- 
Tickets redeemed 

Excess fares refunded 

Uther repayments 

Total deductionp 

Total passenger revenue 

Mail 

Express 

Extra baggage and stcrage 

Other items 

Total pas&enger earnings 

Freight— 

Freigbt re venue 

Less repa> ments— 

Overcharge to shippers 1 

Other repayments 

Total deductions 

Total freight revenue 

Total freight earnings — 

Total passengeT and freight earnings 
Other Earnings from Operation— 

Switching charges— balance 

Rents from tracks, yards, and ternr inals 

Rents not otherwise provided for 

Other sources 

Total other earnings 

Total gross earnings from operation _ 



$686,527.93 



$32,326.40 



32,326.40 



$651,201.53 

113,914.11 

39,651.23 

7,530.93 

2,275.52 

817,576.32 



1,161,910.14 



60,875.49 



60,875.49 



1,101,034.65 



1,101, 03). 60 



1,918,610.97 

2,051.21 

586.75 
2,729.42 
1,906.95 
7,274.33 



1,925,885.30 



RECAPITULATION. 
FOR MILEAGE OWNED. 



Capital stock— total amount outstanding. 

Amount per mile of line (miles, 223. 55) 

Cost of road 

Cost of road per mile 



$4,000,000.00 

17,893.00 

4,975,627.53 

22, 257. 34 



NORTH CAROLINA RAILROAD COMPANY. 



215 



CAPITAL STOCK. 



DESCRIPTION. 


Number of 

Shares 
Auth »tized 


Par 
Value of 
Shares. 


Total Par 
VHlue Au- 
thorized. 


Total 
Amount 
Issued and 
Outstand- 
ing 


DIVIDENDS DE- 
CLARED DURING 
YEAR 




Rate. 
Per Ct 


Amount. 


Capital stock— common 


40,000 


$100.00 


$1,000,000.00 


$4,000,000.00 6>^ 


$260,000.00 


Total 


40,000 


100.00 


4,400,000.00 


4,000,000.00 ax 


260,000.00 



CURRENT ASSETS AND LIABILITIES. 



ASSETS. 

Cash 

Bills receivable 

Due from solvent companies and individuals. 

Other cash assets 

Total cash and current assets 



LIABILITIES. 



Loans and bills payable 

Dividends not called tor-__„ 

Miscellaneous 

Total— current liabilities 

Balance— cash assets 

Total — 



$132,873.58 


300.00 


770.68 


17.95 


133,962.21 


10,000.00 


122,719.50 


312.50 


133,032.00 


930.21 


133,962.21 



INCOME ACCOUNT. 



Income from lease of road 




$266,000.00 


Miscellaneous income— le&s expenses. . . 




1,238.52 








Total income .. . 


-67, 238. 52 


Deductions prom Income— 

Salaries and maintenance of organization 


$=.,406.07 
111.11 




Interest on interest-bearing current liabilities accrued 




Total deductions from income _ _ 


5,517.18 


Net Income — _. .. 




261 721 34 


Dividends, 6^4 per cent, common stock 




260,000.00 






Surplus from operations of year ending June 30, 1899 


1 721 34 


Surplus on June 30, 1898 [from 'General Balance Sheet," 1898 
Report ] 




999,714.48 


Additions for year 




121.92 


Surplus on June 30,1899 [for entry on "General Balance Sheet"]- 




1 001 55" 74 







216 



N. C. CORPORATION COMMISSION. 



RENTALS RECEIVED. 
RENTS RECEIVED FROM LEASE OF TRACKS, YARDS, AND TERMINALS. 



Situation of Property Leaded. 


Name of Company using Property 
Leased. 


Item. 


Greensboro 

Raleigh 


A.& Y.R.R 

R.&C. F. B.R 


1168.75 
J18.C0 








Total. _ . 


586. 75 









OPERATING EXPENSES— Lessee's Report. 

Maintenance of ways and structures 

Maintenance of equipment - 

Conducting transportation 

General expenses—. 

Grand total 

Taxes 

oial operating ex pe ses and taxes 

Percentage of expenses to earnings 



$226,300.28 

293,339.33 

762, 279. 10 

62,108.55 

1,344, 027. •-::6 

40,178.34 

1,384,205.60 



COMPARATIVE GENERAL BALANCE SHEET. 



June 30, 1898 


ASSETS. 


YEAR E 


N DING JUNE 


30, 1899. 


Hem. 


Item. 


Increase. 


Decrease. 


$4, 97.^,627. 5'i 
25 000 00 


Cost of road - - 


$4,975,627.53 

• 

25,000.00 
133,962.21 




Stocks owned 




137,877.45 




$3,915.24 






5, 188, .504. 98 


5,184,589.74 




8,915.24 


LIABILITIES. 

Capital stock 

Current liabilities - _ . 


4,000,000.00 
138,790.50 
999,714.48 


4,000,000.00 

138,03 .0') 

1,001,557.74 








5, 758. 50 


Profit and loss _- - 


$1,843.26 




Grand total . - --- 




5,138,501.98 


5,134,589.74 




8,915.24 







NORTH CAROLINA RAILROAD COMPANY. 



217 



PASSENGER AND FREIGHT, AND TRAIN MILEAGE. 



Item. 



Columns for 
Tonnage, 

No. Passen 
gers, No. 
Trains, 
Mileage, 
No. Cars. 



«22, !6o 
28,394,624 
127, 017 
45.64